News Broadcasting
TV18 net profit up 90 per cent to Rs 100.27 million
MUMBAI: Raghav Bahl promoted Television Eighteen has posted a 90 per cent increase in consolidated net profit to Rs 100.27 million in the quarter ended 31 March 2005.
The company’s revenues rose 87 per cent to Rs 319.84 million in Q4 ’05 with news operations contributing Rs 310.96 million. The earnings from the entertainment, Internet and software operations were at Rs 8.8 million.
Explains Bahl, “This quarter has been extraordinarily robust for the company, with strong revenues for CNBC-TV18. Awaaz too has shown rapid growth in viewership and is gaining ground every week.”
The consolidated results include TV18 India and its subsidiary companies TV18 Mauritius, Eighteen Entertainment India, E18 and MCD.
The company’s consolidated total income for FY 2005 is Rs 934 million, up from Rs 537 million a year ago.
The company’s operating profit at Rs 163.22 million was up 85 per cent year on year and its operating margin remains above 50 per cent year on year.
The board declared a second interim dividend of 10 per cent on the equity shares (Rs 1 per equity share) thereby making the total interim dividend equal to 20 per cent for the financial year 2004-05.
The TV18 Group recently announced its entry into the general news space in collaboration with Rajdeep Sardesai and Sameer Manchanda. Bahl says, “We are very excited by our foray into the general news space with a very competent and proven team and hope to be a dominant player in this genre.”
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.
