News Broadcasting
IBN18 Q2 net loss at Rs 107.94 million
MUMBAI : IBN18 (erstwhile Global Broadcast News) has posted a stand alone net loss of Rs 107.94 million in the quarter ended 30 September 2008, as against a loss of Rs 63.60 million in the same quarter of last year.
The scheme of arrangement between BK Fincap, Jagran TV (JTV) and the company for acquisition of IBN 7 business from JTV and merger of BK Fincap into the company with effect 1 and 2 October 2007 respectively has been approved by the Delhi High Court and Allahabad High Court during the quarter.
Consequently the net loss of Rs 67.8 million and Rs Nil (as per management accounts) on behalf of JTV and BK Fincap respectively for the second quarter FY 09 and net loss of Rs 155.1 million and Rs nil on behalf of JTV and BK Fincap respectively will be merged with the IBN18 Broadcast.
IBN Lokmat has incurred a loss of Rs 96.4 million. The company’s share of loss based upon its holding in IBN Lokmat is Rs 48.2 million for the second quarter. Having regard to the long term investment and strategic involvement, no provision is considered necessary for diminution in the value of investment.
During the quarter, the company’s revenue stood at Rs 304.65 million as compared to Rs 259.96 million in the year ago period.
IBN18’s expenditure has jumped to Rs 386.2 million in the second quarter of FY 09 as against Rs 301.9 million in the corresponding quarter of last fiscal. It has spent Rs 90.15 million on marketing, distribution and promotional expenses.
On a consolidated basis, the company’s net loss stands at Rs 189.4 million on revenue of Rs 307.68 million for the second quarter of the current fiscal.
Consolidated expenses for the company is Rs 434 million.
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.
