News Broadcasting
Cabinet clears FDI in print media
A holy cow has been laid to rest after almost half a century. This morning, the Indian government opened up the print media sector to foreign investment. The Union Cabinet has permitted 26 per cent foreign direct investment in the news and current affairs segment in the Indian print media and 74 per cent in the non-news, non-current affairs segment, Information and Broadcasting Minister Sushma Swaraj told journalists in Delhi.
This has reversed a decision of the Union Cabinet in 1955 which disallowed foreign investment in print media and had had hitherto been considered as the defacto law.
The government took the decision despite solid resistance from select media groups which have lobbied hard to blockade foreign investment in print. Additionally, there has been a lot of opposition within the current government too. One of the media groups probably had an inkling that something like this would happen for it carried a front page story in the leading Indian English newspaper saying that the NDA and the opposition were against any FDI in print media today and that the government should not go back on its earlier decision to disallow FDI in print media.
Swaraj, while making the announcement, declared that certain riders had been laid for allowing FDI. For starters, the Indian shareholding should be significantly higher than the 26 per cent FDI. Second, if the the shareholding pattern was changed by the foreign investor, the I&B ministry had to be compulsorily informed. Third, editorial control will have to remain in Indian hands, and also three-fourths of the editorial posts will have to be filled by Indians. Additionally, the credentials of the foreign investor would necessarily have to be verified by the government before giving him the green signal.
Talking about the decision to open up the sector, Swaraj posed a question to journalists: “Why should one sector be left closed? We started with manufacturing went on to services and now we have gone on to print.”
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.
