News Broadcasting
MobiTV receives $70 million investment led by Oak Investment Partners
MUMBAI: MobiTV Inc., a global player in television and digital radio services for cellular, WiFi and broadband-enabled devices, has announced the successful first close of the company’s Series C financing. Oak Investment Partners’ Bandel Carano will join MobiTV’s board of directors as part of this investment.
The $70 million investment led by Oak Investment Partners will fuel the Company’s expansion in response to the overwhelming demand for its mobile television and radio service across international markets, states an official release.
MobiTV’s products already reach more than one million paying subscribers across the globe who can now watch top news, sports, entertainment and music videos on their mobile devices. The Company recently expanded its product line to deliver the MobiTV service to personal computers across WiFi and other broadband networks and announced the commercial availability of the MobiTV service in Latin America, adds the release.
“We have taken tremendous strides to develop this rapidly emerging market across three continents over the last few years,” says MobiTV CEO & chairman Phillip Alvelda. “These rather substantial funds will help us capitalize on MobiTV’s head start and position as the premiere brand in mobile television. We plan to use these funds to provide even more television content on more devices, across more networks, and in more countries around the world.”
“MobiTV has a unique position in the mobile television market, serving as the leading content aggregator, delivery system and technology expert for carriers,” says Oak Investment Partners managing partner Bandel Carano. “This investment underscores our belief in the future of media delivery through handheld devices and PCs, and MobiTV is at the center of this change in both media delivery and consumer behavior.”
MobiTV, founded in 1999 and headquartered in Emeryville, California, first launched its mobile TV service in November of 2003. Since that time, MobiTV has expanded to serve major domestic carriers including Sprint, Cingular and Alltel and has also grown internationally. The MobiTV service reaches mobile subscribers through more than 20 carriers around the globe including Bell Canada, Rogers and TELUS in Canada,
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.
