News Broadcasting
Corpus Inc. buys out Recreate Solutions for Rs 600 million
MUMBAI: US-based Corpus Inc. has acquired Recreate Solutions, a media and entertainment software outsourcing company floated by former Zee Telefilms employee Bhaskar Majumdar, for Rs 600 million.
“It is a cash-and-stock deal. The acquisition price is around Rs 600 million,” says a source.
The shareholders of Recreate Solutions will hold seven to eight per cent in Corpus, the source says. Insight Capital Partners, which had made two rounds of funding totalling $6 million, holds 75 per cent in Recreate Solutions while founder- promoter Majumdar has the balance 25 per cent.
With the acquisition, Corpus will enjoy a footprint in Europe and India where Recreate Solutions has a wide range of clients. A provider of technology services to the telecom, banking and financial sector, Corpus will now be able to also offer to its big clients like Verizon solutions for IPTV and interactive TV.
“The acquisition will help Corpus enter a new vertical. The company so far was doing backend work for telecom and financial companies. The acquisition will help them to offer front end skills like gaming, IPTV and ITV. The geographical areas are also complementary as they were strong in the US while we had a presence in Europe and India,” says Recreate Solutions CEO Majumdar.
Corpus, which has several Fortune 100 clients and is eyeing a revenue of $100 million, will make the current facilities of Recreate Solutions as its main outsourcing hub, though it has a small base in Bangalore. With the acquisition of the Recreate Solutions’ team of 100, Corpus has now grown its worldwide team to 580.
The acquisition will also help tap telecom operators in India who have IPTV and other convergence plans. Recreate Solutions was in talks with some of the operators but couldn’t make a breakthrough. “The interactive media industry is maturing across platforms. It is consolidating around companies that have viable cost structures and revenue streams that generate healthy margins. Outsourcing of non-core technology functions is a proven method to increase profitability. Recreate Solutions is focused on providing high quality outsourced solutions that add value to clients in our service segment: Digital Interactive Content. Under the Corpus banner we will now we able to take our solutions to Corpus’s Fortune 100 client base,” says Majumdar.
Recreate Solutions has clients like Bell ExpressVu, Canada, Exit Games, YooMedia and CNBC in India. The company is also doing product development work for Espial, a company which specialises in browser solutions on the set top boxes
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.
