News Broadcasting
ESS renews deal for Wimbledon tennis
MUMBAI: ESPN Star Sports (ESS) has renewed a deal for one of its key tennis properties – Wimbledon.
ESS has renewed the rights for another five years. Besides Wimbledon, ESS also airs the Australian and US Open tennis tournaments. Ten Sports has The French Open. Last year, over 167 million homes enjoyed the sight of Swiss Roger Federer winning Wimbledon on ESS. In addition, ESS claims that its overall tennis coverage was able to attract an extra 50 million viewers.
In people-metered markets, Wimbledon claims to be attracting up to five times more affluent, senior professionals than all programs on other cable news channels in Asia. In fact, an average Wimbledon match rates at least twice that of competitive top programmes on other cable channels, says an official release.
ESS MD Rik Dovey was quoted in the release saying, “Wimbledon remains the most widely watched tennis tournament in the world .The key to this acquisition was the fact that the rights holders recognise that we have the best distribution of any sports network in Asia . Year after year, through our first-class production values and support programming, we have dramatically improved the presentation of Wimbledon and enhanced viewer appreciation for the event as well as the sport as a whole.”
Wimbledon director of television John Rowlinson added that ESS’ proven ability to value-add to sport properties was a deciding factor in the award of the multi-year rights to the company. “We appreciate, in particular, how well they have promoted the tournament in the past, and the way in which their distribution network has grown in strength, particularly in China.”
This year, Wimbledon will be held from 21 June – 4 July and will air live on Star Sports as usual.
News Broadcasting
Network18 posts Rs 1,955 crore revenue, narrows FY26 losses
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.
