News Broadcasting
IBN Lokmat Q3 net loss at Rs 30 million
MUMBAI: IBN Lokmat continues to be in losses even as it is close to completing three years.
A joint venture between IBN18 and Lokmat Group, the Marathi news channel has posted a net loss of Rs 30 million for the three-month period ended December 2010. IBN Lokmat had reported a net loss of Rs 40 million in the year-ago period and Rs 60 million in the trailing quarter.
Revenue has gone up to Rs 50 million, up from Rs 40 million in the year-ago period, as it coincided with the festive season. In the trailing quarter, the company reported a revenue of Rs 30 million.
IBN Lokmat has not been able to limit quarter expenses, which are at Rs 70 million in the quarter. The figure was same in the year-ago period as well as in the trailing quarter.
The channel, however, reduced its Ebitda loss to Rs 20 million from Rs 30 million in the corresponding quarter of previous fiscal and Rs 40 million in the trailing quarter.
IBN Lokmat was launched in March 2008 and faces tough competition from both Zee 24 Taas and Star Majha.
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.
