News Broadcasting
MPA face-off: ICC reaches out to Indian players
MUMBAI: The jousting being played out through the media between the ICC and the Indian cricket board shows no signs of any let-up. In a clear attempt to demarcate what it sees as the BCCI’s commercial interests and that of its players, the ICC today explained that the Members’ Participation Agreement (MPA) for ICC events from 2007-2015 will provide greater flexibility for all the players taking part.
ICC general manager – Cricket, David Richardson, said, “The new MPA will be more flexible for players than previous agreements regulating participation in ICC events.
“In drafting the player terms that fall within the MPA we have taken on board the views of players, including views expressed from India, to build a framework of agreements that will provide added benefits to players.”
Richardson’s comments are pertinent if you consider the kind of statements that Indian cricket board officials have been issuing on the subject. The Board of Control for Cricket (BCCI) in India vice-president Lalit Modi was quoted by Agence France Presse news service as saying: “The MPA in its existing form affects BCCI’s commercial interests, gives ICC the right to change agreements unilaterally and affects the players’ interests. The MPA would affect the BCCI and the players’ interests for a period ranging from six to nine months. We are very unhappy with the way the MPA has been drafted.”
Countering Modi’s line, Richardson says, “Players will be faced with fewer restrictions regarding their own endorsement deals and will have greater control over the use of their own player attributes before, during and after ICC events.
“The formal and informal discussions that we have had with players and their representatives indicate widespread support for these developments. The new system will have the added benefit of incorporating clearer guidelines and opportunities for all.
“While the ICC is required to deal directly with the Indian board on player issues, I’ve always enjoyed a good relationship with the Indian captain Rahul Dravid and several of their leading players and, should the BCCI permit, I’d welcome an opportunity to answer any queries they may have.”
India, which hosts the ICC’s Champions Trophy from Saturday, won the right to hold the 2011 World Cup jointly with neighbours Pakistan, Sri Lanka and Bangladesh.
The ICC has given the BCCI till next Monday (9 October) to notify it of any and all difficulties it has with the MPA. About the deadline, BCCI secretary Niranjan Shah told AFP. “We have been given a deadline till Monday to inform the ICC of our objections and we will meet that date.”
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.
