News Broadcasting
BBC mulls 20 % stake in Radio Mid-Day
NEW DELHI: Star might have backed out of the FM radio sector for the time being, but British broadcaster BBC has proposed to pick up an equity stake in Mumbai-based Radio Mid-Day that runs a FM radio station.
According to government sources, BBC Worldwide Ltds proposal envisages the British broadcaster picking up to 20 per cent equity stake in Radio Mid-Day.
The quantum of investment has not been specified in an application moved before the Foreign Investment Promotion Board (FIPB), which is examining the proposal in consultation with the nodal ministry, information and broadcasting ministry.
Radio Mid-Day, where the paid up equity capital is slightly over Rs. 590 million, operates a private FM radio station in Mumbai.The company has expressed its intention to bid for licences in other cities too during the second phase, beginning early next year.
In Radio Mid-Day, 82 per cent of the stake is held by Mid-day Multimedia, while the remaining shareholding is with a company called Ferrari Investment.
Interestingly, BBC Worldwide has obtained permission from its board of governors to invest up to £ 7 million (approx Rs 550 million) in Indias FM radio sector.
As and when government permission comes through for BBC Worldwide, it would be the second major investment in the Indian media sector.
The first joint venture is with Bennett, Coleman & Co Ltd — publishers of The Times of India and Economic Times, apart from a host of other media ventures — for publishing scientific and other specialty journals in India.
Another foreign player that is expected to soon throw its hat in the FM ring is Richard Branson’s Virgin Radio HT Music in association with Hindustan Times. HT subsidiary Entertainment Pvt Ltd is among the companies that have indicated interest in bidding for the second round of FM licences.
The companies that have expressed interest in running private FM radio stations in 91 cities range from traditional media outfits to clothing outfits to dairy product manufacturers to consultancy firms to trading establishments.
Until now, 100 firms have shown interest in the two-stage bidding process for 338 FM frequencies across India. Quite a few companies have not yet specified the number of frequencies they would bid for as this is just a pre-qualifying round.
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.
