News Broadcasting
Funeral held for Kerry Packer
MUMBAI: A funeral service for the late Australian media moghul Kerry Packer was held today on his rural New South Wales property, Ellerston.
A statement sent by the family said that at a brief service, they gave thanks for a life of courage and giving. “Kerry is now at peace.”
A hearse entered Ellerston property with only the immediate family around to bid their final farewell. With the media magnate’s passion for polo and intensely private nature well documented, Ellerston proved a fitting location to close the final chapter on Australia’s richest man, state media reports.
Battling many health ailments over long years, Packer died on Monday at his Sydney home of kidney failure. A public memorial service takes place next year.
Packer was Australia’s richest man – thought to be worth A$6.9billion (or nearly £3billion).- he had made success or lost money in many different businesses from television stations, magazines, films, cattle stations, engineering works, property and building, ski resorts, plantations, mines, chemicals and mineral water.
His empire meant a holding of 30 per cent in Publishing & Broadcasting Ltd.,(PBL) which operates Australia’s Channel Nine television network, publishes a bunch of magazines, and has interests in Australian casinos.
James Packer returned to work just 36 hours after his father’s death, and began the process of taking charge of the media and gaming giant at PBL. He is to face his first challenge with the Seven and Ten networks expected to counter Nine’s rights to broadcast AFL.
Kerry Packer had secured the $780 million deal for the Nine Network just days before his death. The new agreement, starting in 2007, dwarves the current $500 million, five-year agreement involving Nine, Ten and Foxtel.
Seven and Ten have until January 6 to match Nine’s five-year offer.
The PBL board have given their public support behind James and his charge of the company. Chief executive John Alexander said on on behalf of the board, “(James) has a very clear vision for the future development of the company which was enthusiastically supported by the board.”
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.
