News Broadcasting
New system of BBC governance is working : Grade
MUMBAI: The BBC’s new system of governance is delivering the radical change that is vital to ensuring that the UK pubcaster is effectively governed and regulated for the 21st century.
This was the crux of the speech that BBC chairman Michael Grade delivered at the Oxford Media Convention.
He said the BBC needed to change to ensure effective regulation. He added that any reforms had to ensure the independence of the BBC and accountability to licence fee payers.
Grade maintained that he had not accepted the job of BBC Chairman after the Hutton report caused a shake up to defend the status quo: “It was clear to me on applying for this job that an urgent programme of reform was needed to give everyone new confidence that the Governors could represent the public interest and become sensitive to the complex, multi-media world it now shares with so many private-sector players.
He said that it was unfortunate that the Charter review debate about governance was coinciding with the implementation of the new system, rather than after the reforms were complete.
Grade said that the new system was already addressing the problems that were inherent in the old system. “Our new system is up and running. Although not complete in every detail yet, it is delivering. It’s already clear that it does enable us to engage closely enough to scrutinise management activity, while at the same time giving us enough distance and formality of process to guarantee objectivity on behalf of licence-fee payers.
“I really do believe it answers the material criticisms levelled at the old system.” He said the Board of Governors remained open to proposals designed to improve the new system further and he said these should be tested against five principles that any system of governance should deliver. They are :
1. Independence of the BBC
2. Rigorous stewardship of public money
3. Accountability to licence fee payers
4. Clarity of roles
5. Practicality – can it be made to work?
The BBC’s new system of Governance includes a new Governance unit which is independent of – and located apart from – senior management and making more use of independent external advisers. There will also be rolling cycle of transparent, independent reviews of BBC services and activities, including issues raised by audiences.
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.
