News Broadcasting
ABP group set to pick up 74% in MCCS – Star News holding company
NEW DELHI: The buzz is that Ananda Bazar Patrika (ABP), controlled by the Sarkar family of Kolkata, is set to pick up 74 per cent equity stake in a company that would oversee the functioning of Star News in India, including the uplinking of content from here.
While a Star India spokesperson told indiantelevision.com that the company “neither confirms or denies” the development, according to sources in ABP, Aveek Sarkar, the 60-something owner of the publishing group, informally conveyed the development to some of his trusted colleagues in the Delhi office of The Telegraph newspaper, which is published by ABP, today afternoon.
The deal, as reported by Business Standard today, was clinched by Sarkar after having promised to cough up Rs 750 million against another bid for a majority shareholding in the news venture by Nusli Wadia, who is said to have pitched in with Rs 400 million.
Sarkar could not be contacted for a comment. When contacted, the largest existing Indian shareholder ad man Suhel Seth refused to make any comments, while another five per cent shareholder in Media Content Communications Services India Pvt. Ltd., Hindustan Times editor Vir Sanghvi, said, “I am still to receive any offer from anybody for my shareholding.”
When specifically asked whether he is game to exit the Star News venture, Sanghvi added, “If the terms and conditions are good, I , like any other shareholder, should not have a problem.”
Sanghvi is slated to have dinner today with Sarkar, who was described by him as “an old friend.” If Star manages to bring on board ABP, it would lay to rest a controversial case relating to Star News of dummy companies and shareholders with no real powers.
It is, however, not known whether Star, directly or indirectly, would have some business interest in ABP or a subsidiary that may be interested in bringing out an edition of Telegraph from Mumbai, the stronghold of Times of India.
According to Business Standard, rival bidder Wadia of Bombay Dyeing was informed on Saturday of Star’s decision regarding ABP. A formal announcement is expected in a day or two. ABP will pick up 74 per cent of the equity, with Star holding the remaining 26 per cent – in line with the government’s new rules for TV news companies, the business paper reported.
Previous investors in a controversial dummy company with Rs 40 million equity, including Seth, TV personality Maya Alagh, former Bollywood actor Jeetendra and DSP Merrill Lynch’s Hemendra Kothari, will presumably be bought out, Business Standard said.
ABP is expected to pay over Rs 750 million for its stake in the partnership, which places the Star News valuation, pre-investment, at about Rs 250 million, and post-investment at Rs 1 billion, BS said.
Amongst the suitors whom Star Group Pvt. Ltd.’s CEO James Murdoch met last week over two days included the Jains of Times of India. Others who had also sent feelers included former Shiv Sena member of parliament Pritish Nandy, according to industry sources.
What could have gone in favour of ABP and Sarkar? Apart from being a non-controversial businessman with adequate political links unlike the Birlas and the Wadias, Sarkar does not have any other business interest other than media. Sarkar also brings to the table the tacit support of another Kolkata-bred Marwari businessman, RP Goenka, who controls the RPG group with large business interests in the entertainment sector (HMV, Sare Ga Ma, cable distribution company amongst others).
At the end of the day, it doesn’t suit Rupert Murdoch’s style to shut down ventures.
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.
