News Broadcasting
Merrill Lynch, Nomura Mauritius pick up 14.2% in NDTV for Rs 700 mn
MUMBAI: Merrill Lynch and Nomura Mauritius have picked up 7.92 and 6.25 per cent stake respectively in the news broadcaster NDTV, paving the way for private equity firm DE Shaw to consolidate its holdings through these two transactions to 14.2 per cent for Rs 700 million.
The two investment firms have picked up the shares on behalf of DE Shaw from the open market on NSE and BSE, according to market sources.
Merrill Lynch picked up 5.1 million shares of NDTV from Goldman Sachs, which offloaded its entire stake for Rs 76.55 per share. Merrill Lynch has shelled our Rs 390.9 million for the transaction.
Nomura Mauritius, on the other hand, has bought the shares from GS Mace Holdings, which exited NDTV by selling its 4 million shares for a total of 308.5 million.
When contacted, NDTV Group CEO KVL Narayan Rao said he is not aware of DE Shaw taking stake in NDTV. “You can‘t expect us to comment on any transaction that is made in the open market where we are not involved,” Rao added.
NDTV operates three news channels NDTV 24X7, NDTV India and NDTV Profit. It also runs a lifestyle channel, NDTV Good Times.
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.
