Cable TV
Fox’s Asia SVP Joe Welch named CASBAA board chairman
MUMBAI: CASBAA, Asia’s media association serving the multichannel audio-visual content creation and distribution industry, has announced that Joe Welch has been named as the chairman of its board of directors.
Welch is 21st Century Fox’s senior vice-president of government relations for the Asia-Pacific region. He is responsible for supporting the public policy and regulatory advocacy efforts of 21st Century Fox’s business units across the region.
Previously, Welch served as MCI WorldCom’s Asia director of government affairs, and earlier was an attorney at the U.S. Federal Communications Commission in Washington, D.C.
“I’m taking on this role at a time when we have a set of positive options at hand, many now in progress, that will make CASBAA sustainable and relevant for the long term,” Welch said. “For some time now, CASBAA has been moving to secure the ability to deliver ‘twin pillar’ services for members: advocacy and anti-piracy. I look forward to working together with the Board and the Executive Office in driving an effective delivery of these pillars while continuing our mission to inform and connect our members.”
Welch replaces outgoing director Jonathan Spink of HBO Asia. Spink was elected the chairman of the board in December 2016, but stepped down recently, at the time stating “…a new vision for CASBAA is needed.” HBO remains a patron member of the association, and Spink expressed confidence that its new direction would “…fit in with the desires and requirements of our industry.”
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.
