News Broadcasting
Micheal Grade appointed as BBC Chairman
MUMBAI: Michael Grade has been appointed BBC chairman in place of Gavyn Davies, one of the high profile heads to roll in the wake of the damning Hutton inquiry report.
Known as one of Britain’s most flamboyant and controversial media figures, 61-year-old Grade succeeds Davies who resigned in January after the Hutton inquiry report criticised the BBC’s handling of the row that led to the death of weapons inspector David Kelly last year.
Grade’s predecessor Davies was appointed on 19 September 2001 for a five year period from 1 October 2001. He resigned from the BBC on 28 January 2004. The Hutton report also led to the resignation of BBC director-general Greg Dyke.
Among the challenges Grade faces will be the hunt for a new director-general, restoring trust in the BBC, restoring the institution’s global reputation, leading new programming initiatives, clarifying BBC regulations, negotiating the BBC Charter and establishing a vision for the future.
Prior to this stint, Grade has had a long and distinguished career including leading roles in commercial television, the BBC, film and the leisure industries. In 1973, he became London Weekend Television’s head of entertainment and director of programmes. Later in 1978, he moved to the USA to become president of Embassy Television. He joined the BBC as controller BBC-1 in 1984 and became its director of programmes, Television in 1986.
He then spent nine years from 1988 as chief executive of Channel 4 Television. In 1997 he joined First Leisure Corporation, first as executive chairman and then as chief executive until 1999, says the release.
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.
