MAM
Time Warner is world’s top media owner: Zenithoptimedia
MUMBAI: Time Warner occupies the top spot in Zenithoptimedia’s ranking of the leading 30 global media owners.
Time Warner generates US$30 billion which is 13 per cent out of the total $215 billion that the top 30 global media owners earn in media revenue
The US has by far the most media owners in the ranking, followed by – in descending order – Japan, France and the UK, Germany, Italy and Mexico.
Two new-media companies – Google and Yahoo – are in the top 30. ZenithOptimedia’s ranking of the world’s biggest media owners is based on their revenues from activities that support advertising.
Some companies on the list are entirely media-focussed; others are corporate giants for which media forms only a small part of their overall turnover. ZenithOptimedia’s ranking strips out the non-media revenues to provide a true measure of each company’s size and power in the media market.
The ranking is based on revenues for 2005, or the nearest equivalent for companies whose financial years are different from calendar years. Some companies’ media revenues are therefore from the financial years ending in March 2006 or June 2006.
Time Warner is by some distance the largest media owner in the world, with $30 billion in media revenue. News Corp, the second-largest, generated just over half that – $17 billion.
The five top media owners are all based in the US. Each has at least a half share in a US television network, but their other holdings vary in nature and international extent. In all, 16 of the top 30 media owners are from the US. The other countries with media owners in the top 30 are Japan (with four representatives), France and the UK (with three each), Germany (two) and Italy and Mexico (one each).
Two new-media companies are in the top 30: Google, at 13th, and Yahoo! at 15th. The ranking forms part of a new report from ZenithOptimedia called the Top Thirty Global Media Owners. The report provides an overview of each media owner’s operations and lists the media properties they own, along with key personnel, media shareholdings, and financial data.
Brands
PUMA Q1 profit jumps 19.6 per cent to €51.9m despite 6.3 per cent sales decline
Inventory clean-up and cost controls lift earnings as brand navigates transition year
HERZOGENAURACH: PUMA has kicked off 2026 on a steady note, reporting improved profitability in the first quarter even as sales slipped, signalling early progress in what it calls a transition year.
The German sportswear major posted sales of €1,863.8 million in Q1 2026, down 6.3 per cent on a reported basis. On a currency-adjusted basis, the decline was milder at 1.0 per cent, helped by ongoing inventory clearance efforts.
Profitability, however, told a more upbeat story. Gross profit margin rose 60 basis points to 47.7 per cent, driven by the reversal of inventory reserves, lower freight costs and a favourable channel mix. EBIT climbed 19.6 per cent to €51.9 million, despite €-12.6 million in one-time costs linked to a cost efficiency programme. Adjusted EBIT stood at €64.4 million, up from €61.3 million a year earlier.
Net profit from continuing operations surged to €26.5 million, a sharp jump from €1.1 million in Q1 2025, with earnings per share improving to €0.18. The financial result also improved significantly to €-15.6 million from €-38.5 million, aided by currency tailwinds.
Speaking on the performance, PUMA chief executive officer Arthur Hoeld said, “In the first quarter our athletes won 21 medals at the World Athletics Indoor Championships and set national records at the Berlin Half Marathon. Operationally, we were off to a solid start to our transition year in 2026. We have managed to reduce our inventory levels faster than planned, streamlined our product portfolio and addressed operational inefficiencies.”
Inventory reduction remained a central theme. Inventories fell 8.6 per cent to €1,898.0 million, while working capital dropped 9.7 per cent to €1,879.2 million. Trade receivables declined 20.3 per cent and trade payables were down 26.2 per cent, reflecting lower sales and purchasing volumes.
Regionally, performance was mixed. EMEA sales fell 10.4 per cent on a currency-adjusted basis to €774.5 million, impacted by weak demand and geopolitical tensions in the Middle East. The Americas grew 6.1 per cent (currency-adjusted) to €655.6 million, led by a strong 10.5 per cent rise in Latin America, though reported growth was hit by currency fluctuations. Asia Pacific emerged as a bright spot, growing 7.9 per cent to €433.8 million, supported by strong demand in Greater China and Southeast Asia.
By channel, wholesale revenue declined 2.8 per cent (currency-adjusted), while direct-to-consumer sales rose 3.8 per cent to €528.1 million. The DTC share increased to 28.3 per cent from 27.5 per cent last year, reflecting a sharper focus on owned retail and digital channels.
Product-wise, footwear sales dipped 2.3 per cent (currency-adjusted) to €1,089.6 million, though running and training categories showed strong growth. Apparel inched up 0.9 per cent to €546.3 million, aided by football and golf, while accessories remained broadly stable at €227.9 million.
Free cash flow, though still negative at €-201.4 million due to seasonality, improved significantly from €-737.6 million a year ago. Net debt rose to €1,357.6 million, but the company maintained financial flexibility with €1,104.7 million in cash and available credit lines.
Looking ahead, PUMA reaffirmed its full-year outlook. It expects currency-adjusted sales to decline in the low to mid single-digit range, with EBIT projected between €-50 million and €-150 million. Capital expenditure for 2026 is pegged at around €200 million, focused on digital infrastructure and DTC expansion.
PUMA chief executive officer Arthur Hoeld added, “For the remainder of the year, we will continue to focus on improving the quality of our distribution, cost base and cash management. In doing so, we are laying the foundations for future growth.”
With inventory clean-up ahead of schedule and operational efficiencies beginning to show, PUMA appears to be tightening its laces for a stronger run, even as macroeconomic and geopolitical uncertainties continue to test the track ahead.
