Cable TV
MGM to launch new media division
MUMBAI: Metro-Goldwyn-Mayer Studios (MGM) has launched a new media division. Douglas A. Lee will oversee the new unit as executive VP.
Lee will oversee MGM’s digital distribution strategy. He will also spearhead the studio’s broadband and wireless efforts and shepherd new digital media growth.
MGM chairman, CEO Harry E. Sloan said, “MGM will be making significant moves in terms of new platforms, ranging from TV and the Internet to wireless, mobile and more. Doug has a wealth of senior management experience culled from several major media companies including Fox, HBO and Universal. This and his proven track record in new media will be a great benefit and addition to MGM’s already outstanding team. I am thrilled to have him at the helm as we capitalise on the myriad opportunities in the digital space.”
MGM COO Rick Sands says, “Doug is an expert at navigating the new media space and identifying key opportunities. He will also be working closely with our strategic partner, Sony Corporation of America, which is at the forefront of Blu-ray and major electronic and digital initiatives.”
Lee says, “There are numerous opportunities to grow and extend the MGM brand in the new media age. We will look to mine the library for new opportunities and also create new productions and initiatives for the plethora of new media opportunities that currently exist, as well as plan for new and emerging possibilities.”
With over 20 years experience as a senior executive in the global entertainment business, Lee’s career highlights include the launch of HD Cinema 10 for Voom, the creation of Noggin, the first educational children’s network and a joint venture between Sesame Workshop and Nickelodeon; a founder of Crime, a broadband platform that was sold to USA Cable; and he was instrumental in spearheading News Corp.’s acquisition of Star-TV.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
