News Broadcasting
China proving a tough nut to crack for Murdoch
MUMBAI: Global media firms are feeling the heat of China’s aversion towards them. News Corp chairman and CEO Rupert Murdoch has admitted that his plans for China are not going as smoothly as had been hoped for. He conceeded that his company had hit a “brick wall in China,” after the government reversed a policy of relaxing controls on international media organisations.
China hasn’t responded to Murdoch’s criticism that the country’s authorities had reversed a policy to open the market to international media companies. Murdoch has accused China’s leaders of being quite paranoid about the kind of news that gets through.
Media reports indicate that Star is authourised in some areas of Guangdong province and some residential compounds and hotels. Efforts to expand have been blocked and the broadcaster is said to be under investigation of allegations that it sold access. Officials in China are investigating News Corp for alleged cooperation with unapproved local cable networks.
Murdoch spoke at a a panel on global media at the Clinton Global Initiative. At the meeting Time Warner chairman and CEO Richard Parsons said in news reporting one cannot compromise. That is because news either has integrity or it doesn’t. It either is accurate, balanced and fair or it isn’t. The Chinese he says are doing whatever they can to manage the message. They are clearly looking to open up at their own time and pace.
At the same time Murdoch noted that there is a limit as to how much the Chinese government can control the entry of foreign content. He gave the example of pirated copies of Hollywood movies that are freely available. Murdoch has also criticised Yahoo!. The internet firm turned over information that led to the imprisonment of a Chinese journalist. The online firm is believed to have done it to get on the good side of the Chinese government. China is said to be a potential Internet usage gold mine. Yahoo co-founder Jerry Yang has said that the company had no choice because the government asked for the documents and backed up its request with a court order. Parsons has decided against distributing AOL in China as the Chinese government wants to monitor messages sent on the service.
He noted that the Chinese government did not differentiate between different parts of a company. The whole company is labelled as being unfavourable because of something going on at the news division. Parsons also praised CNN’s global efforts. Murdoch though not surprisingly feels that nobody watches it because it is so unwatchable and it’s so anti-American.
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.
