News Broadcasting
Global Broadcast News sets Rs 230-250 price band for public issue
MUMBAI: Global Broadcast News Ltd, owners and operators of English news channel CNN-IBN, has set a price band of Rs 230 to Rs 250 for its Rs 1.05 billion initial public offering (IPO).
The issue will open on 15 January and close on 18 January. The proceeds of the IPO will be used to meet the company’s growth plans and to complete the acquisition of Hindi channel IBN-7.
“This is the second company we are taking to the markets. All future channel launches, which will be in the general news space will be through this company,” TV18 managing director Raghav Bahl said at an analysts meet in Mumbai today. TV18, which holds the business channels CNBC TV18 and CNBC Awaaz, was listed late last month after being restructured to meet regulatory guidelines.
GBN will also hold 15 per cent in Web18, the company that holds all the internet properties of TV18.
After the listing, foreign institutional investors will have a limit of investing upto 18 per cent. “GBN will have a foreign holding of eight per cent through Network18. This will mean that FIIs can hold 18 per cent in GBN,” Bahl clarified. Regulation permits news channels uplinking from India to have a maximum foreign holding of 26 per cent.
The IPO is lead managed by ICICI Securities and Kotak Mahindra Capital Company Ltd. The co-book running lead managers to the issue are JM Morgan Stanley and IL&FS Investment.
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.
