Cable TV
Court dismisses $20 bn lawsuit against Comcast, Time Warner Cable; NAAAOM to appeal
MUMBAI: Federal Judge Terry Hatter issued a short ruling dismissing the $20 billion racial discrimination in contracting lawsuit filed by the National Association of African American Owned Media (NAAAOM) and Entertainment Studios Networks, Inc.
Judge Hatter’s ruling did not provide any detail as to why the case was dismissed except to say that the Plaintiffs had failed to allege a claim for relief.
“Knowing that our lawsuit helped the FCC and the DOJ deny Comcast’s bid to buy Time Warner Cable is already a big win for us. We are going to immediately appeal this decision to the 9th Circuit Court of Appeals who I believe will deliver us a favorable decision,” said Entertainment Studios Networks chairman, CEO and founder Byron Allen.
“We will continue to vigorously pursue Comcast and Time Warner Cable, who spend approximately $25 billion annually licensing cable networks with less than $3 million going to 100% African American owned media. We will not stop until the discrimination stops and we achieve true economic inclusion,” said NAAAOM president Mark DeVitre.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
