News Broadcasting
Zee, TV18, Balaji in top 500 Indian companies’ list
NEW DELHI: Only a handful of media companies like Zee Telefilms, Deccan Chronicle and Television Eighteen Ltd find a place in a survey of top 500 Indian companies conducted by Economic Times newspaper.
With a market cap of Rs. 9.3 billion in June 2006, Zee Telefilms has been ranked 142nd in ET500 in August 2006, up from an earlier survey in February when it had been placed at 281st position.
Incidentally, Zee tops the media heap amongst the best in India where the top two slots are occupied by infotech companies, Tata Consultancy Services and Infosys Technologies.
Regional media powerhouse, Deccan Chronicle Holdings, finds a place at No. 167 with a market capitalization of Rs. 1.4 billion.
Television Eighteen, owners of TV channels like CNBC TV18 and CNN IBN, has slipped to No. 330 in ranking in August from an earlier position of 318.
According to ET500, TV18’s market cap in June stood at slightly over Rs. 1 billion.
The other two media organizations finding place in the top 500 Indian companies are Adlabs (rank: 342) and TV and movie production house Balaji Telefilms (rank: 355).
Balaji too slipped in ranking from No. 336 in an earlier ET500 list.
Economic Times used several parameters, including market capitalization of a company, to compile the ET500 list.
The eight parameters considered included absolute change in market cap over the past one year, sales, absolute change in sales over the past year, net profit, absolute change in net profit over the past year, price to earnings (P/E) multiple and return on net worth.
The market cap of companies during the period June 16-30, 2006 has been considered, while sales and profit numbers are for 12 months ended March 2006.
(Rs. 47=1US$)
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.
