News Broadcasting
MAX to present new on-air look 26 January
It’s got the look. A peek at the new face that Max, the digital movies and events channel from the Sony Entertainment stable, will be presenting to the world at 7 am on Republic Day (26 January) certainly corroborates that.
Speaking to the media during what could be called a coming out party, Rajat Jain, executive vice-president and business head, MAX, said there would be a renewed focus on building the Max brand as a separate entity rather than as an adjunct of SET. The restructuring process that was undertaken last year had split SET and Max into two business units to give each channel the requisite focus, Jain said.
The aim is to build up Max for the future for which there will be adequate investment pumped in, Jain said, adding that once the new look channel went on air there would be some changes in the MAX logo and elements for all promotables like Maha Movie and Mera Movie, for instance, plus elements like promo end pages, menu pages, lower thirds, new packaging audio, etcetera.
Queried on what the channel proposed to do with its cricket property (Max has the rights to cricket played in Bangladesh for the next six years), Jain said they would be utilising it but stressed that movies would be the main focus.
Though Jain refused to get drawn into a discussion on whether Max would phase out cricket from its itinerary it is clear that Max is positioning itself as a movies and events channel rather than a movies and cricket one as was earlier the case.
Detailing what went into the new look of the channel, Jain said: Under the supervision of the channel’s creative team, the new look has been executed by the top notch, International award winning design house, Belief which bagged a pitch that was open to seven other reputed international design houses from the USA and UK. Belief did the creatives on the new look that SET went in for at the end of last year as well.
Jain says: “We have spent close to six months in conceiving and executing our new look. And I believe that all the time, and the quarter of a million dollars we invested in the project, has been well worth the effort.
Jain added that his team was working on a programming schedule that would be clued in to the needs of both the advertiser and the viewer which would be ready by March.
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.
