Cable TV
Derek Chang Named president & CEO of Liberty Media
MUMBAI: The John Malone-headed Liberty Media Corp has announced the appointment of veteran media, sports, and entertainment executive Derek Chang as its president& CEO, effective 1 February 2025.
Chang, a Liberty Media board member since 2021, brings extensive experience from leadership roles at the NBA, DirecTV, Scripps, and EverPass Media, among others. Liberty Media chairman John Malone, will serve as interim CEO until Chang assumes the role.
“I am thrilled to welcome Derek as CEO,” said Malone. “His deep industry expertise and leadership make him the ideal choice to guide Liberty’s next chapter.”
Chang expressed enthusiasm for the opportunity, stating his focus will be on optimising Liberty Media’s portfolio and advancing key assets like Formula 1 and MotoGP.
Chang will join the Liberty Media board’s executive committee alongside Malone, Dob Bennett, and Chase Carey.
Liberty Media operates interests in media, sports, and entertainment businesses, including Formula 1 and Live Nation.
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.
