News Broadcasting
Zee Media to seek shareholder nod to demerge DNA print business
MUMBAI: Print and TV news. For some that would make for a heady combination. But, not for the Essel group-promoted Zee Media Corp Ltd (ZMCL) which runs the Zee News channels as well as the newspaper DNA through a clutch of unlisted subsidiaries. DNA has a print edition in Mumbai and has launched in Delhi recently.
ZMCL is seeking shareholder approval (on 27 March in Mumbai) to demerge its DNA business (which is operated under Digital Media Corp Ltd – DMCL, MediaVest India Pvt Ltd and Pri-Media Services) from itself even as it merges another company Maurya TV (which runs the current affairs channel Zee Purvaiya) with itself. The scheme got ZMCL board approval earlier.
The carving out of the print media assets from ZMCL will result in its shareholders getting one DMCL share (face value of Re 1) for every four ZMCL shares (face value Re 1). The date for the demerger and amalgamation has been noted as 1 April 2017.
What’s compelling ZMCL and DMCL to take this step? According to its notice filing with the BSE over the weekend, the print and media businesses are run and managed differently and can attract a different set of investors, strategic partners, lenders and other stakeholders. This apart, FDI regulations permit 26 per cent foreign investment in print and 49 per cent in news TV after government approvals.
While ZMCL had revenues of around Rs 394 crore in the year to 31 March 2016, DMCL reported a topline of around Rs 110 crore in the same period, according to the filing with the BSE. The latter had a loss of Rs 8.72 crore for the same period while the former had a net profit of Rs 18.75 crore.
The group is proposing to list DMCL on the stock exchanges on getting shareholder and other regulatory and listing approvals.
AlsO Read :
http://www.indiantelevision.com/television/tv-channels/news-broadcasting/zee-media-ad-revenue-up-in-q3-17-170206
http://www.indiantelevision.com/regulators/ib-ministry/zee-medias-49-stake-in-927-big-fm-gets-it-59-radio-channels-161123
http://www.indiantelevision.com/television/tv-channels/news-broadcasting/big-fm-india-today-deals-zee-media-seeks-shareholder-nod-for-loans-161223
http://www.indiantelevision.com/television/tv-channels/people/the-key-is-to-consolidate-zeel-zmcl-zee-digital-and-dna-business-ashish-sehgal-160404
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.
