News Broadcasting
‘UK’s Ofcom model difficult to export to Asia’
HONG KONG: Do any industry players love their regulators? The answer, probably, is a big NO.
And, in return, a regulator should not expect love, but should have a relationship with a regulatee that is based on transparency and integrity, amongst other things. Ditto for a vice versa relationship.
This was the message that Kip Meek, senior partner for competition and content at Ofcom in the UK and chairman of the European Regulators’ Group said here today at the ongoing annual convention of Cable and Satellite Broadcasting Association of Asia (Casbaa).
Speaking at session, aptly titled `How to love your regulator’, Meek also said that the Ofcom model of regulation is difficult to transport to other places; especially Asia. Reason? Ground realities may differ from market to market.
“Is the Ofcom model exportable (to Asia)?” Meek posed a question and answered in the negative.
Detailed regulation should follow on-ground realities, he explained, adding that content regulation in all countries cannot be the same.
For instance, he said, Ofcom is quite liberal in comparison to some other regulators in developed countries as far as content goes.
On cue, a majority of over 70 per cent in the audience voted against common regulatory standards in Asian countries, when asked to after Meek had finished speaking.
According to Meek, the phrase ‘light touch of regulation’ may also sound an absurdity though Ofcom in the UK regulates on three principles, which include unbiased and least intrusive regulation.
Meek also opined that a converged regulator is better placed to regulate in the present environment, provided it’s “truly independent and truly unbiased.”
“A fully converged regulatory model does work… but don’t go for harsh measures,” he said.
However, Meek felt there is a possibility of a converged regulator being considered too powerful.
Moral of Meekspeak: a regulator-regulate is not the usual run of the mill tale.
News Broadcasting
Network18 Q4 revenue grows 9.7 per cent, EBITDA at Rs 30 crore
PAT improves to Rs 306.6 crore, margins steady amid cost pressures.
MUMBAI: Not all news is breaking, some of it is quietly improving. Network18 Media & Investments Limited appears to be doing just that, tightening losses and stabilising margins even as costs continue to weigh on the business. For FY26, the company reported revenue from operations of Rs 1,955.1 crore, up from Rs 1,896.2 crore in FY25, signalling modest top-line growth in a challenging media environment. Total income stood at Rs 1,978.2 crore, compared to Rs 1,913 crore a year earlier.
Profit after tax came in at Rs 306.6 crore for the year, a sharp turnaround from Rs 3,225.4 crore in FY25, largely reflecting the absence of large exceptional items that had inflated the previous year’s numbers. On a more comparable basis, the company’s operating performance showed signs of gradual stabilisation.
However, the quarterly picture remained under pressure. For the March quarter, Network18 reported a loss of Rs 53.1 crore, narrower than the Rs 98.1 crore loss in the same period last year, but still indicative of ongoing cost challenges.
Expenses continued to track high. Total expenses for FY26 stood at Rs 2,235.7 crore, up from Rs 2,197.8 crore in FY25. Key cost heads included operational expenses of Rs 765.9 crore, employee benefits of Rs 475.9 crore, and marketing, distribution and promotional spends of Rs 427.1 crore, underlining the continued investment required to sustain reach and engagement.
At an operating level, margins remained under strain. Operating margin stood at 2.33 per cent for FY26, marginally higher than 1.77 per cent in FY25, while net profit margin remained negative at -13.02 per cent, though improved from -14.89 per cent.
On the balance sheet, total assets rose to Rs 8,957.6 crore as of 31 March 2026, from Rs 8,317.5 crore a year earlier. Equity strengthened to Rs 4,958.7 crore, while borrowings increased to Rs 3,112.8 crore, reflecting a higher reliance on debt to support operations.
Cash flows told a mixed story. While financing activities generated Rs 83.9 crore, operating cash flow remained negative at Rs -24 crore, highlighting ongoing pressure on core cash generation. Cash and cash equivalents, however, improved to Rs 33.9 crore from Rs 1.8 crore.
The numbers point to a company in transition growing revenues, trimming losses, but still grappling with structural cost pressures. In a sector where scale often comes at a price, Network18 seems to be inching towards balance, one quarter at a time.
