News Broadcasting
MySpace.com founder Greenspan launches company to invest in Chinese internet properties
MUMBAI: MySpace.com founder Brad Greenspan has announced that he has launched and provided initial funding for BroadWebAsia (BWA), a new company that partners with and powers social networking, entertainment and Internet search properties across Asia.
BWA has already signed agreements to invest in and partner with more than 20 rapidly growing Chinese Internet companies. Combined, these companies have more than 20 million unique visitors and approximately one billion page views per month, with tremendous opportunity for growth, informs an official release.
“The launch of BroadWebAsia will allow me to implement my proven US internet strategy in China, where there are more than 120 million Internet users, making the country second only to the US in terms of online users,” said Greenspan. “With less than 10 percent of the Chinese population online, there is vast potential for growth. By partnering with early leaders and working with local management, we will dramatically increase traffic and revenue potential for our emerging online Chinese partners.”
BWA’s first portfolio company, BBMAO.com, is the first meta-search engine focused on China. BBMAO was just named one of the 100 “most promising companies in all of Asia” by Red Herring Asia magazine. Greenspan helped the founders of BBMAO strategize and launch the Web site more than nine months ago. Today, BBMAO has over 70,000 unique users a day and is continuing to grow quickly while rolling out new features.
BWA is also seeking to raise up to $50 million dollars for other acquisitions, investments and transactions in the Chinese internet marketplace. Greenspan serves as BWA’s chairman of the board, the release adds.
Greenspan previously served as founder, CEO, and chairman of eUniverse (later renamed Intermix Media), where he led the creation and launch of MySpace in August 2003. eUniverse owned 100 per cent of MySpace — and Greenspan through his ownership of eUniverse — owned approximately 30 per cent of MySpace, effectively making him the largest historical
individual shareholder of MySpace. At MySpace’s inception and launch, Chris DeWolfe and Tom Anderson were eUniverse employees that managed MySpace under the direction of Greenspan.
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.
