News Broadcasting
Fox News appoints new execs; no mention of junior Murdochs
MUMBAI: After the exit of Roger Alies as the head of Fox News, 21st Century Fox executive chairman Rupert Murdoch has named Jake Abernethy and Bill Shine as co-presidents of Fox News. The two executives will report to Murdoch.
Abernethy comes from the less dramatic and political corner of the empire, Fox’s network of local stations. He will oversee more of the business end now. Shine, earlier senior executive VP of programming for Fox News, will now focus on programming and editorial matters.
It has also come to our knowledge that Suzanne Scott has been promoted as executive vice president of programming and development for the network. She will continue to report to Shine. Fox News’ long-time chief financial officer Mark Kranz is retiring.
“Over his 19 years with Fox News, Mark Kranz was instrumental in increasing profitability across all of our key properties,” Murdoch said in a statement. “We are grateful for his many contributions to the company and we extend our best wishes to him as he embarks on a new chapter.”
Jay Wallace will continue to manage the news division as the executive vice president of news editorial. He will now report to Shine.
Both executives had previously reported to Ailes, and both had been widely speculated to be among the top internal contenders to replace Ailes.
“Jack was integral to the launch and success of Fox News nearly 20 years ago and we’re delighted he’s returning to take on this additional role,” Murdoch said in a statement. “As we continue to benefit from his strong leadership of Fox Television Stations, his strategic vision and deep knowledge of the cable news business will ensure continued growth of Fox News and Fox Business Network for generations to come.”
He added, “Bill Shine has developed and produced a signature primetime that has dominated the cable news landscape for 14 of his 20 years with Fox News. His leadership and keen eye for programming has played a fundamental role in the success of both, Fox News and Fox Business Network.”
The announcement of Shine and Abernethy’s promotion makes no mention of Murdoch’s sons, James Murdoch and Lachlan Murdoch. The elder Murdoch has been running Fox News on an interim basis since Ailes’ departure last month.
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.
