News Broadcasting
IMG acquires production firm Tiger Aspect
MUMBAI: IMG Media has announced that it will acquire the London based production firm Tiger Aspect Productions.
The acquisition includes Tiger Aspect’s subsidiaries Tigress (adventure and wildlife producer), TTP (Washington DC-based US production company) and Tiger Aspect Pictures.
IMG Media, a division of sports, entertainment and media firm IMG, will finance the acquisition entirely with capital from parent company IMG. The Tiger Aspect acquisition is part of IMG’s strategic growth plans.
It will also enable IMG Media to become for the first time, a multi-genre market leader. IMG Media says that its subsidiaries TWI, the world’s largest independent producer and distributor of sports programming, and high-end factual specialists Darlow Smithson Productions (Touching the Void, I Shouldn’t Be Alive, Seconds From Disaster, The Falling Man), put it at the forefront of global high-end factual production.
For Tiger Aspect, the agreement enhances its position as one of the top global multi-genre production companies, giving it access to new opportunities via a greater global presence, intellectual property within the group and new technologies.
Tiger Aspect brings with it key strengths across a wide range of programming including animation and children’s, comedy, drama, entertainment, and a broad range of factual output. It also produces wildlife programmes (through Tigress) and has a movie unit which has produced hits ranging from Billy Elliot to Kevin and Perry Go Large.
Key to the acquisition is Tiger Aspect’s reputation as a creative independent producer with a proven track record of producing hits across all genres, both within the UK and overseas. The company has a growing annual output of more than 220 hours and an annual turnover of more than 50 million pounds. In addition to its London HQ and Bristol office, it has an established production base on the east coast of America.
Tiger Aspect’s programme portfolio includes comedies like The Catherine Tate Show, The Vicar of Dibley, Mr Bean. Currently in production are new series of BBC shows Charlie and Lola and detective drama Murphy’s Law. Tiger Aspect has also done factual series like The Monastery.
IMG chairman and CEO Ted Forstmann said, “IMG today is in an exceptionally strong financial position. As a result of unprecedented internal growth, we are now able to make investments in any of the areas in which we do business. We already have a major presence in worldwide distribution, rights management, and New Media. The Tiger Aspect acquisition will immediately help us grow content production and distribution. We welcome Tiger Aspect and its people into the IMG global family.”
IMG Media executive VP and COO Alastair Waddington said, “Tiger Aspect’s acquisition realises IMG Media’s long-held ambition to become a multi-genre producer, and we look forward to Tiger Aspect’s continued success and growth, while maintaining its distinctive identity as a producer of top quality programming.”
Tiger Aspect founder and chairman Peter Bennett-Jones said, “This is a red letter day in the distinguished history of Tiger Aspect. We are immensely proud of our output and this deal will enhance our ability to make many more memorable programmes for broadcast in the UK and around the world through IMG’s extensive international structure. It will also open up new media opportunities and introduce new markets and creative relationships.”
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.
