BBC World India to rejig shareholding, seeks time till end of FY24 to ensure compliance with FDI norm
BBC News deputy chief executive Jonathan Munro is likely to make an announcement on the purported change in ownership structure soon, said people in the know. He is scheduled to address a townhall of BBC India staff on Tuesday.
Replying to ET's questions, a BBC spokesperson said, «We will not be making an announcement today. We will let you know if and when we have more to say.»
Munro couldn't be immediately reached for comment.
Service Provider
In its regulatory filings, BBC World Service India disclosed that it had received a letter from the ministry of information and broadcasting dated March 31, for alleged non-compliance with FDI norms.
The company said it has sought time until March 31, 2024, for compliance, and communicated its restructuring proposals to the ministry.
People aware of the development told ET that one of the options being explored by the company is to offer stakes to some of its executives. Some key functionaries in India include Rupa Jha, head of BBC News India; Mukesh Sharma, head of African language services, BBC News; and Sanjoy Mazumdar, deputy managing editor, Asia, at BBC World Service.
BBC World Service India acts as a service provider to BBC UK for the production of television, radio and website content in Hindi and other Indian regional languages, as well as English.
