News Broadcasting
SEBI GIVES GREEN SIGNAL TO MEDIA AND ENTERTAINMENT COMPANIES: EASES IPO NORMS
The Securuties and Exchange Board of India (Sebi) has finally given the much awaited green signal to media, entertainment and telecom companies who had been demanding since a long time the 10 per cent Initial Public Offering (IPO) norm which was earlier enjoyed only by Infotech companies.
The board meeting held by Sebi decided on allowing knowledge based companies in the media, entertainment and telecom sector to offer a minimum 10 per cent shares to the public through IPOs. Earlier to this, the norm was a minimum 25 per cent IPO.
One condition, however, is added which says that minimum 2 million shares should be issued and the size of the public offering should be atleast Rs 500 million. This norm is to ensure enough floating stock in the market. Also 75 per cent revenues and profit of such companies should come from one of media, entertainment or telecom businessess.
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.
