News Broadcasting
Zee Media acquires 80% stake in India Today’s entities; to launch shopping channel
MUMBAI: Zee Media Corporation Ltd (ZMCL) has acquired up to 80 per cent equity stake in Today Merchandise Pvt Ltd (TMPL) and Today Retail Network Pvt Ltd (TRNL), which are wholly owned subsidiaries of India Today Group’s entity Living Media India Ltd. The company plans to invest approximately Rs 165.78 crore over the next four years in scaling up this business.
Today Merchandise and Today Retail Network, which are currently running into losses, have been developing infrastructure for launching a TV shopping channel and also operate an e-commerce website called www.bagittoday.com to complement the TV shopping business.
With this acquisition, Zee Media is not only looking at shortening the launch timing of a TV shopping channel but is also planning to scale up the business at a faster pace.
By June 2016, ZMCL will acquire 49 per cent equity stake by investing approximately Rs 39.78 crore by subscribing to equity shares of TMPL and TRNL, at par value and will have managerial and operational control over the target entities.
Subsequently the company will increase its stake, by investing up to Rs 126 crore over a period of four years, by subscribing to any security convertible into equity shares of the two companies at par value, such that upon conversion, the shareholding of the company shall be 80 per cent of fully diluted capital of TMPL and TRNL.
TMPL was incorporated on 23 November, 2010. During financial years ended 31 March, 2015, 31 March, 2014 and 31 March, 2013, TMPL had achieved turnover of Rs 3.84 crore, Rs 5.25 crore and Rs 5.11 crore respectively.
On the other hand, TRNL was incorporated on 20 August, 2007 and during its financial years ended 31 March, 2015, 31 March, 2014 and 31 March, 2013, TRNL achieved turnover of Rs 37.36 crore, Rs 52.45 crore and Rs 49.80 crore respectively.
ZMCL’s board of directors have in-principal approved the stake acquisition. ZMCL, with its existing broadcast operations, is looking to derive the synergy benefits from this proposed investment.
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.
