Jim Egan, Chief Executive Officer of BBC Global News, has joined the Board of Directors of Media Development Investment Fund in a non-executive capacity.
As CEO of the BBC’s international news subsidiary which owns and operates the BBC World News television channel and its digital counterpart bbc.com, Jim brings world-leading experience of the broadcasting news business to MDIF. He will help guide the non-profit fund’s investments in independent media companies in countries where access to non-partisan news is under threat.
“We are thrilled that Jim has agreed to join our Board of Directors,” said Harlan Mandel, MDIF CEO. “Jim’s deep understanding of digital media and the commercial news business will make a vital contribution to the development of our portfolio and help support independent media that hold governments to account and expose corruption.”
BBC Global News is solely commercially-funded. Generating around $140m in annual revenue, it has been profitable since 2014/15. As one of the biggest providers of international news in the English language, BBC World News and bbc.com together reach more than 120 million adults globally each week.
Jim has worked in the media industry for more than 20 years. His experience includes strategy, P&L responsibility, mergers and corporate integration, turnaround and business development. Before joining the BBC in 2007, Jim was Director of Strategy at Ofcom, the UK’s communications and media regulator. He also served as Specialist Adviser to the UK Secretary of State for Culture, Media and Sport.
Prior to these public sector appointments the first ten years of Jim’s career were in the private sector, as a Strategy Consultant at PricewaterhouseCoopers and as Business Development Manager for BSkyB.
MDIF is a New York-registered not-for-profit company investing in independent media around the world providing the news, information and debate that people need to build free, thriving societies. Since making its first loan in 1996, it has invested more than $225m in loans, equity and technical assistance in 117 independent media businesses in 41 countries where access to information is under threat, writing off 11.2% of the total loaned and invested. MDIF has returned $50.2 million to investors and ended June 30, 2019 with a portfolio of $104 million assets under management.