News Broadcasting
Full text of Star Group’s official statement on Balaji stake acquisition
MUMBAI: Star Group and Balaji Telefilms Ltd. Balaji announced that Asian Broadcasting FZ-LLC (ABF), a Star affiliate, and Balaji today reached a definitive agreement under which ABF would be issued approximately 13.694 million shares at Rs 90 per share to give it a 21 per cent stake in Balaji by investing a total of Rs 1.23 billion in Balaji. Following completion of the acquisition, which is subject to regulatory approvals, ABF expects to be able to hold up to 26 per cent in Balaji following the public offer to the shareholders of Balaji as per the takeover Regulations and/or through warrants that will be issued to it.
The acquisition of Balaji is in line with Star’s strategy of increasing content production in India. Balaji is the largest content production company in India, producing shows in various languages including Hindi, Telugu, Tamil and Kannada. Its television productions such as Kyunki Saas Bhi Kabhi Bahu Thi and Kahaani Ghar Ghar Ki regularly top the ratings charts in the country.
Commenting on the deal, Star Group CEO Michelle Guthrie says, “We are thrilled to acquire a stake in Balaji, with whom we enjoy a productive and rewarding relationship. Balaji, under the continuing management and leadership of the Kapoors and with its unique pool of creative talent, has become one of the most important companies in the evolving and increasingly competitive media arena in India. As Star continues to expand its services and offer more choices to viewers, we see enormous strategic benefits from strengthening our relationship with Balaji.”
Balaji Telefilms chairman Jeetendra Kapoor says, “We are excited about having Star as an investor in the company. We believe that the investment made in the company would assist in achieving a higher level of growth and in the process generate significant value for all the stakeholders.”
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.
