News Broadcasting
Eisner out as Disney chairman, retains CEO title
MUMBAI: The Walt Disney company is in the news yet again. While last month it was in the limelight because of the unsolicited bid made by Comcast, this time round it is for different reasons altogether.
The company’s CEO and chairman Michael Eisner has been removed from the post of chairman at the company’s annual meeting which took place on 3 March. However Eisner retains his position as chief executive of the company. The board also unanimously elected former US senator George Mitchell as chairman.
The decision came after 43 per cent of shareholders withheld their votes from Eisner, who has been blamed by some for the lackluster performance of the media-entertainment powerhouse in recent years.
According to a media report, the vote sent shock waves through corporate America and marked the strongest such protest against an incumbent chief executive ever, signaling Disney’s concession was unlikely to satisfy shareholders campaigning for Eisner’s removal. Disney’s board said that while it recognised that some shareholders were calling for Eisner’s ouster, it was confident that the entertainment conglomerate’s financial results would validate its support of management and current strategy.
The Disney board was quoted in media reports saying that, “While making this change in governance, the board remains unanimous in its support of the company’s management team and of Michael Eisner, who will continue to serve as chief executive officer.”
One media report said that in the meeting, the board also said that Comcast’s takeover proposal was not in the best interest of the company and its shareholders. It also said it that it was open to looking at a “reasonable proposal.”
However it is believed that this speedy move probably won’t please Roy Disney and his supporters. The problem, according to Disney and fellow axed board member Stanley Gold, is that the current board was hand-picked by Eisner with the not-too-surprising result that they tended to rubber stamp his decisions. Hence an independent chairman was sought from outside.
Taking advantage of this sudden move and decision, Comcast had another go at bidding for the company which was however dismissed. So it looks like Disney is going to be in the news for a while now.
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.
