BBC Shareholders Approve Restructuring

October 1, 2014

Earlier today [Oct 1] shareholders of the Bermuda Broadcasting Company [BBC] unanimously approved a restructuring, which the company said is designed to “put it on a sound financial footing.”

BBC President Chris Perry said, “As President of the BBC, I am very pleased to announce that the shareholders of BBC earlier today unanimously approved a restructuring of the Company designed to put it on a sound financial footing and to allow it to focus on its core business of broadcasting.

“The board and the shareholders recognize that the Company is an asset to Bermuda and to the community of Bermuda, unlike any other. The financial restructuring of the BBC has safeguarded the jobs of more than 29 full time and 13 part time / casual workers all of which are Bermudian and we hope this will create opportunities for more Bermudians to become the broadcasters, sound engineers, broadcasting technicians and even news presenters of the future.

“It has also preserved the unique community asset that is the BBC for future generations of Bermudians and Bermuda residents to enjoy.We are looking forward to working with and for the people of Bermuda now and in the future.”

The Bermuda Broadcasting Company is now the island’s sole producer of television news, with Defontes Broadcasting having ceased television broadcasting a few weeks ago.

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Category: All, Business