News Broadcasting
Reliance Industries to sell 3.1% stake in Network 18
MUMBAI: In a move to bring down its shareholding to permitted levels, Mukesh Ambani led Reliance Industries Limited (RIL) is looking at offloading 3.25 crore shares from its recently acquired Network 18 Media & Investments Limited (NW18). Pegged at around Rs 200 crore, the company will sell 3.10 per cent of the equity capital of NW18.
The decision has been taken to bring down the aggregate shareholding of the promoter and promoter group to 75 per cent and increase the public shareholding to 25 per cent as mandated by Clause 40A of the listing agreement pursuant to Securities Contract (Regulation) Rules, 1957.
In this regard, Shinano Retail, which is a wholly owned subsidiary of RIL, has issued a notice of offer for sale of 3.25 crore shares of NW18 through the stock exchange mechanism in accordance with the SEBI circulars.
It can be noted that RIL acquired Network18 and TV18 Broadcast for an estimated sum of Rs 4000 crore through its arm Independent Media Trust (IMT) on 29 May, 2014.
RIL is one of India’s largest private sector company, with a consolidated turnover of Rs 3,88,494 crore (US$ 62.2 billion), cash profit of Rs 36,291crore (US$ 5.8 billion) and net profit of Rs 23,566 crore (US$ 3.8 billion) for the year ended 31 March, 2015.
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.
