Cable TV
Murdoch’s Foxtel mulls 15% stake in Oz’s Ten Network for $67 million
MUMBAI: Rupert Murdoch’s Australian local cable TV company Foxtel is mulling the option of buying a stake in Ten Network Holdings.
Australia’s free-to-air broadcaster Ten Network Holdings has acknowledged that it is in talks with Foxtel for a potential investment.
According to a report in the Australian Financial Review, Foxtel was close to agreeing a deal to take a 14.9 per cent stake in Ten, pumping in about $66.47 million at 18 cents a share.
In a statement to the Australian Securities Exchange (ASX), Ten Network said that an ongoing review about its ownership “involves discussions with Foxtel about the terms on which it may potentially invest in Ten.”
Foxtel is half-owned by the Australian arm of News Corp and half-owned by Australian telecom company Telstra Corp.
Ten Network added that it will “update the ASX again when required to do so under its continuous disclosure obligations.”
The company also urged “caution in dealing in its shares on the basis of media speculation about potential transactions involving the company.”
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.
