News Broadcasting
FIPB clears Star proposal to take 26% stake in Balaji
MUMBAI: The Foreign Investment Promotion Board (FIPB) has finally cleared a proposal for Star Group’s acquisition of up to 26 per cent stake in Balaji Telefilms Ltd.
Government sources confirmed that the board has cleared the proposal, which was listed as an additional item for FIPBs meeting earlier this month. As per government rules, Star had also obtained a “no objection” certificate from its Indian joint venture partner in the yet to take off Space TV direct-to-home venture for making this investment in Balaji.
Star Group affiliate Asian Broadcasting FZLLC (ABF), the “foreign collaborator” according to government documents, could have a maximum shareholding of up to 41 per cent, subject to future shareholding alignments.
As per an extant policy, 100 per cent foreign direct investment (FDI) is allowed in the production of television software under the automatic route.
Balajis share on the Bombay Stock Exchange ended on Monday at Rs 99.05 after opening for the day at Rs 101.00.
Now that the FIPB has cleared the proposal, a final green signal from the finance minister remains a matter of routine. However, before that happens, Star cannot make an open offer, which is a necessity as per regulatory guidelines.
The open offer is directed to be made by ABF to the shareholders of the production major for acquiring a 20 per cent stake in India’s leading content provider at a price of Rs 90 share aggregating Rs 1173.8 million payable in cash.
The open offer would be for 13,042,089 fully paid up equity shares of Rs 2 each; representing 20 per cent of the voting post issue equity capital of Balaji at a price of Rs 90 per share.
The Balaji proposal, cleared on 10 December by the FIPB, was earlier deferred twice. One of the reasons being the nodal ministry for media-related investments, information and broadcasting ministry, had not got back to the FIPB with its comments.
Interestingly, the Rupert Murdoch-controlled Star Group is the only foreign broadcaster that has sought government approval up till now to invest sizably in Indian production houses. Earlier, Star’s parent News Corp had picked up about 14 per cent stake in UTV, which bought back the holding some time back. Sony Entertainment TVs intent to buy into SAB TV, the Sri Adhikari Brothers controlled production house, still remains an intent, at least officially.
News Broadcasting
BBC to cut up to 2,000 jobs in biggest overhaul in 15 years
Cost pressures and leadership change drive major workforce reduction plan
LONDON: BBC has unveiled plans to cut up to 2,000 jobs, roughly 10 per cent of its global workforce, in what marks its biggest downsizing in 15 years.
The announcement was made during an all-staff meeting led by interim director-general Rhodri Talfan Davies, as the broadcaster moves to tackle mounting financial pressures and reshape its operations.
Between 1,800 and 2,000 roles are expected to be eliminated from a workforce of around 21,500. The cuts form part of a broader plan to save £500 million over the next two years, aimed at offsetting rising costs, stagnating licence fee income and weaker commercial revenues.
In a communication to staff, BBC interim director-general Rhodri Talfan Davies said, “I know this creates real uncertainty, but we wanted to be open about the challenge,” acknowledging the impact the move would have across the organisation.
The restructuring comes at a time of leadership transition. Former director-general Tim Davie stepped down earlier this month, with Matt Brittin, a former Google executive, set to take over the role on May 18, 2026.
While some cost-cutting measures are being implemented immediately, the majority of the structural changes are expected to roll out over the next few years, with full savings targeted by the 2027–2028 financial year.
The broadcaster had earlier signalled its intent to reduce its cost base by around 10 per cent over a three-year period, warning of “difficult choices” as it adapts to shifting economic realities and audience expectations.
With operating costs hovering around £6 billion annually, the BBC’s latest move underscores the scale of the financial challenge it faces, as it balances public service commitments with the need for long-term sustainability in an increasingly competitive media landscape.
