Arqiva is reportedly working on a restructuring plan as it deals with the impact of streaming on TV consumption.
According to The Telegraph, the plan will see around 500 members of Arqiva’s staff made redundant – that accounts for about a third of Arqiva’s workforce.
The company has recently sold its cellular towers business to Spain’s Cellnex Telecom in a deal worth £2 billion. It’s thought Arqiva intends to use proceeds of the sale are to pay off debts and put the remainder of the company on a more secure footing.
The Telegraph quotes a source close to the company as saying the planned redundancies were not “Covid slash and burn”, but a carefully planned simplification and efficiency drive that would help ensure reliable broadcasts in the years ahead.
Arqiva generates the majority of its business by charging fees to television channels and radio stations for distribution over the airwaves. Last year these fees totalled £491 million, but are expected to reduce in size over the coming years as broadcasters move towards IP and internet-based delivery.
