News Broadcasting
Shin Satellite Increases Net Profit 25% in first half of 2002
MUMBAI: Shin Satellite Public Company Limited today announced continued growth for the first half of 2002, posting 25 per cent growth in net profit over the first half of 2001, or 804 million Baht, up from 642 million Baht in the same period last year. Consolidated revenue increased to 180 million Baht.
Satellite service revenue dropped 61 million Baht due to the 1.5 Baht per dollar decline in the value of the US dollar. However, this is offset by the exchange gain of more than 140 million Baht on the dollar denominated debt the company owes, a company release says.
Dr Dumrong Kasemset, executive chairman of Shin Satellite, noted: “The effect of up to 90 per cent of the company’s revenue and much of its liabilities and debt being in that currency provided the company with a natural hedge against fluctuations in the foreign exchange rate and helped to maintain very stable revenue growth year-on-year.
“Furthermore, we maintained a steady rise in the utilization of our existing satellites, with C-band utilization moving up to 96 per cent and Ku-band utilization 53 per cent,” he said. “This utilization is being enhanced by use of Ku-band by our iPSTAR customers, and we expect this to continue to strengthen over the year.”
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.
