News Broadcasting
HT Media net trebles at Rs 306.3 million
MUMBAI: HT Media Limited has reported a 33 per cent increase in revenues for the quarter ended 30 June 2006 to Rs. 2.48 billion, compared to Rs 1.86 billion a year ago. This is driven primarily by contributions from the Mumbai operations which was launched in July 2005, the company said in a release.
Enhanced operating efficiencies and robust ad revenue growth resulted in a 113.3 per cent improvement in operating profits (EBITDA) for the quarter which increased to Rs 606.2 million. The operating margin for the quarter improved to 24.5 per cent from 15.3 per cent last year.
Pre-tax profits recorded a substantial increase from Rs 154.2 million last year to Rs 473.6 million in Q1FY2007. Net profit for the quarter under review, when compared with corresponding period last year, more than trebled to Rs 306.3 million from Rs 98.1 million, translating into an EPS (non-annualized) of Rs 6.53.
Commentiing on the performance HT Media vice chairperson and editorial director Shobhana Bhartia said: “Our performance during the quarter has been very encouraging. We are pleased to report that our Mumbai operations are performing in line with plan, enabling us to attract national advertisers and better rates. In addition to being a leader in the English market, we are also one of the country’s largest players in the Hindi segment where we are expanding our footprint. Our operations continue to be fundamentally robust, and we intend to make further investments in new growth initiatives during the current year. Our growth strategy is working as intended and we believe that the outlook for the full year is quite strong.
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.
