News Broadcasting
Liberty Media acquires 9.15 per cent voting interest in News Corp
MUMBAI: The John Malone owned media conglomerate Liberty Media yesterday announced the acquisition of 9.15 per cent voting interest in Rupert Murdoch’s News Corporation Limited.
According to a notice filed wtih the Securities and Exchange Commission, Liberty now owns 48 million News Corp ordinary American Depositary Shares (ADSs) and 210.8 million News Corp preferred limited voting ADSs.
The increase of Liberty’s minority voting interest in News Corp by swapping non voting for voting shares now means that Liberty now owns a total equity interest of 17 per cent in News Corp.
According to the company, currently, Liberty Media is the largest shareholder in News Corp and has the second largest voting stake. During the past year, Liberty Media increased its ownership in News Corp by 26.8 million ADSs, says a company release.
“We have capitalized on an opportunity to exchange non-voting shares for voting shares at attractive prices to become the second largest voting block in one of the world’s premier media companies,” Liberty Media President and CEO Robert Bennett has been quoted as saying. “News Corp is one of the few truly global media companies and we are very pleased we were able to leverage our substantial equity interest in News Corp into a larger equity and voting stake,” says Bennett.
Liberty Media Corporation holds interests in numerous globally branded entertainment networks such as Discovery Channel, USA Interactive, QVC, Encore, and STARZ! Liberty’s assets also include interests in international video distribution businesses; international telephony and domestic wireless telephony; plant and equipment manufacturers; and other businesses related to broadband services.
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.
