News Broadcasting
News Corp looks to grow business in Russia
MUMBAI: His son Lachlan Murdoch may have suddenly quit the company a few days back but media moghul Rupert Murdoch is not spending much time brooding over it. He is said to be looking to expanding the business by buying a stake in Russian broadcasting and production outfit Ren TV.
Media reports indicate that the Russian steel group Severstal wants to sell part of its stake in mid-sized television station Ren-TV to News Corp. Top News Corp executives met a couple of days ago for talks with senior executives from the Russian industrial conglomerate Severstal. Ren TV is one of Russia’s largest independent stations.
News Corp is said to be looking for a 35 per cent stake in Ren TV. The Kremlin, which has taken direct or indirect control over most of Russia’s television stations, has been reluctant to allow foreigners to buy into major local television broadcasters.
Last month, Severstal agreed to pay electricity monopoly UES $100 million for 70 per cent of Ren-TV. This was seen as a sign the state was tightening its grip over the media. Severstal’s chief shareholder, Alexei Mordashov is said to be loyal to the Kremlin. Ren TV boasts a reach of nearly 100 million viewers.
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.
