News Broadcasting
Fox’s fiscal revenue up by 8% to $13.97 bn
Mumbai: Fox reported total full-year revenues of $13.97 billion, an increase of eight per cent from the previous year’s $12.91 billion. Affiliate fee revenues increased by seven per cent, with a 10 per cent increase in the television segment and a five per cent increase in the cable network programming segment. Ad revenues increased nine per cent, primarily due to higher pricing at Fox Sports and Fox News Media, continued growth at Tubi and the return of a full schedule of live events at Fox Sports. These ad gains were partially offset by lower political ad revenues. Other revenues increased by 15 per cent, owing primarily to higher sports sub licensing revenues and Fox Nation subscription revenues in the cable network programming segment, as well as the impact of entertainment production company consolidation in the television segment.
The company reported a full-year net income of $1.23 billion as compared to the $2.20 billion reported in the prior year. Full-year adjusted Ebitda was $2.96 billion, down from $3.09 billion the previous year, as revenue increases were offset by higher expenses. The increase in expenses primarily reflects increased digital investment at Tubi and Fox News Media, costs associated with the launch of the USFL, and higher programming rights amortisation associated with normalised sports and entertainment schedules that were impacted by Covid-19 in the prior year.
Fox executive chair and CEO Lachlan Murdoch said, “We completed another successful year at Fox, with fiscal 2022 results demonstrating the strength and durability of our core brands and their ability to deliver consistent audiences across the entirety of Fox. These results validate the strategy we embarked on three years ago – to focus on live news and sports while investing in high-growth digital initiatives to create a platform for ongoing growth. We begin fiscal 2023 with strong momentum, supported by an enviable schedule of live sporting events and the midterm election cycle, and bolstered by a best-in-class balance sheet. These attributes will serve us well in navigating any macroeconomic uncertainty while continuing to create value for our shareholders.”
The company reported total quarterly revenues of $3.03 billion, a five per cent increase over the $2.89 billion reported in the prior-year quarter. Affiliate fee revenues increased by four per cent, with seven per cent in the television segment and two per cent growth in the cable network programming segment. Ad revenues increased by seven per cent, primarily due to higher pricing and ratings at Fox News Media, higher political advertising revenues at the Fox Television Stations, and continued growth at Tubi. Other revenues increased by four per cent, primarily due to the impact of the consolidation of entertainment production companies and higher Fox Nation subscription revenues, partially offset by the timing of sports sublicensing revenues.
The company reported a quarterly net income of $308 million as compared to the $272 million reported in the prior year’s quarter. Quarterly adjusted Ebitda increased by seven per cent to $770 million from $717 million in the previous fiscal year, owing primarily to increased contributions from the television segment.
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.
