News Broadcasting
Acquisition of MGM by Sony completed
MUMBAI: MGM has announced that a consortium comprising Sony America, Providence Equity Partners, Texas Pacific Group, Comcast and DLJ Merchant Banking Partners has completed its acquisition of the company.
This transaction establishes MGM as one of the world’s largest privately-held, independent motion picture, TV and home video companies, says a company release.
Last year, Sony scored with its $5 billion-bid for acquiring MGM. MGM and the consortium had announced in September 2004 that they had an agreement related to this acquisition. The agreement was adopted by MGM shareholders in December 2004. According to the agreement, stockholders of MGM will receive $12 in cash, without interest, for each MGM share held.
MGM president Dan Taylor said, “Today we begin an exciting chapter in the life of MGM. With our strong financial and strategic partners, we look forward to building on MGM’s legacy and capitalising on emerging technologies and markets to provide consumers more opportunities to enjoy the world’s largest modern library of films and TV programming.”
MGM has also announced several key senior management appointments. Charles Cohen will serve as executive VP. Cohen had been executive VP of finance and corporate development at MGM since May 1997. Jim Packer will be executive VP television distribution. Packer had been executive VP, television distribution – North America since 2001.
MGM expects to benefit from operating agreements with Sony Pictures Entertainment (SPE). SPE will assume certain distribution responsibilities for MGM’s library of 4,000 films and 10,400 TV episodes through SPE’s global distribution network, which currently distributes SPE’s library of 3,500 films and 35,000 TV episodes.
MGM also expects to co-finance new films with SPE and co-produce some of these new projects. These films will be distributed and marketed by SPE. MGM will also develop new original TV programmes and is currently completing production on the ninth season of Stargate SG-1 and the second season of Stargate Atlantis, which will both premiere this summer. Sony Pictures Television will assume production management for certain MGM TV content.
In addition to the operating agreements with SPE, MGM also expects to benefit from distribution agreements with Comcast in the US. MGM content will be available on Comcast’s video on demand platform and on new cable channels operated by Comcast and jointly owned by Comcast, SPE and the members of the consortium.
As far as theatrical releases are concerned The Amityville Horror releases on 15 April. Into the Blue, Romance and Cigarettes, The Woods, The Pink Panther and Art School Confidential will come out later this year.
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.
