News Broadcasting
TV18 promoters to up stake in firm via creeping acquisition
MUMBAI: Television Eighteen India on Friday said its promoter group would increase stake in the company through a creeping acquisition instead of subscribing to warrants.
Network18 Media and Investments Ltd, a founder group firm, has already acquired 300,000 equity shares in TV18 since 15 February 2008 via purchases in the open market. TV18 owns and operates business news channels CNBC TV18 and Aawaz.
The fall in share prices could have triggered Network18’s decision to buy in the open market.
TV18 board had earlier approved the issue of 10 million warrants to allow Network18 India Holdings , a unit of Network18, to up its stake in the company.
“Network 18 India Holdings has decided not to subscribe to the preferential allotment of 10 million convertible warrants of TV18 that were approved for allotment,” an official statement said.
Creeping acquisition is a process by which the promoters of a company holding less than majority stake increase their equity either by making an open offer to the shareholders or buying from the market.
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.
