News Broadcasting
Bertelsmann launches intl VC fund focussed on digital media
MUMBAI: Global media firm Bertelsmann has established a venture capital fund called Bertelsmann Digital Media Investments (BDMI) and a Luxembourg company to execute and house the BDMI investments.
The fund is designed to ensure direct access to emerging technologies and businesses. With an initial funding of €50 million, BDMI’s mission is to tap into new technologies and digital media innovations to support the continued leadership of Bertelsmann’s divisions across the media landscape.
Richard Sarnoff, who has been President of Random House’s corporate development group and its venture arm, Random House Ventures LLC, additionally has been named President of BDMI, and will report to Bertelsmann CFO Thomas Rabe in this capacity.
BDMI’s international team based in the US and Germany will concentrate on digital media opportunities that can enhance or extend Bertelsmann’s existing strengths in broadcast television, book and magazine publishing, music, media services, and direct marketing. Investments will primarily be minority stakes in early-stage companies, but can also include majority stakes and external fund investments where appropriate.
Bertelsmann chairman and CEO Gunter Thielen says, “Bertelsmann has a keen focus on new technologies and fosters expertise within each of its divisions. We are committed to further extending our innovative spirit and media leadership by creating a fund dedicated to emerging technology opportunities.
“Richard Sarnoff is the ideal candidate for this assignment, since he has excellent experience in funding such opportunities, strong connections in the venture capital industry, and broad familiarity with all of Bertelsmann’s businesses above and beyond his responsibilities at Random House”.
Sarnoff said, “Technology continues to play an increasing role in all Bertelsmann divisions as digital media, the Web, and mobile access continue to converge on a global scale. This new fund will allow us to supplement the existing in-house knowledge base and support ongoing divisional technology initiatives through investments in pioneering companies”.
BDMI will operate in partnership with each Bertelsmann business division, taking investment cues from new business models and digital media trends identified by the divisions as strategic to future growth. It will work with the appropriate Bertelsmann division on each investment for initial evaluation, due diligence and ongoing oversight of portfolio companies.
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.
