News Broadcasting
Fox executives take pay cuts; Murdochs forgo salaries
MUMBAI: There will be salary cuts at Fox Corp in view of the crisis caused by COVID-19 pandemic. While CEO Lachlan Murdoch will give up his salary, the company’s 700 employees will take a pay cut. There will also be a suspension of compensation increase across the company, including for the board of directors.
Top executive officers at Fox will go without pay until September 30 of 2020, according to an internal memo. Those who are foregoing salaries include Rupert Murdoch, chief financial officer Steve Tomsic, chief operating officer John Nallen, and chief legal officer Viet Dinh.
“We are able to protect our full-time colleagues with salary and benefit continuation during the period we are most affected by the crisis," said Fox Corp CEO Lachlan Murdoch.
While Rupert Murdoch took home $42.1 million in fiscal 2019, Lachlan’s total compensation was $42.1 million, according to company filings with the Securities and Exchange Commission.
Dwindling ad spends have hit the media empire which comprises Fox News, Fox Entertainment, and Fox Sports, in addition to local TV channels. While production of some entertainment programmes was cancelled, broadcast rights had to be postponed or cancelled.
The media company has extended the work-from-home system till May 15. According to the CEO, a return to “normal operations” will only become possible as per the recommendations from officials and health experts.
Murdoch informed that salary cuts will affect the rest of the Fox executives in tiers. Those executives who directly report to him will take a 50 percent cut through the same period.
The Fox employees have undertaken some COVID-19-related relief activities which Murdoch has highlighted in his staff memo: “We have retained and redeployed our Studio Lot food services staff, and these colleagues are now preparing 2,000 meals per day for those in need in the L.A. community. And some costume department staff have used their time and skills to make masks for fellow colleagues to help them work more safely,"
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.
