News Broadcasting
NewsCorp envisages stock option to safegaurd stakes
MUMBAI: Rupert Murdoch’s News Corp Ltd. Today took preventive action in a bid to insulate itself against any hostile bid from the US cable company Liberty Media Corp.
The News Corp plan envisages issuing stock options to dilute the stake of any predator, according to a Reuters report from Sydney.
John Malone’s Liberty began a transaction last week that could increase its voting stake in News Corp. to about 17 percent from nine per cent, raising speculation it could launch a takeover bid for Murdoch’s media empire.
Realising that Liberty’s Malone could make a hostile bid on an empire that Murdoch has built for his children, News Corp announced on Monday it would give its shareholders the right to buy one News Corp. share at half price for each share they own, if any party buys a 15 percent stake in the company. Shareholders would be able to buy up to $80 of half-price shares.
The strategy would exclude the purchaser of the 15 per cent stake, providing a “poison pill” defense against anyone plotting to take control of News Corp. from 73-year-old Murdoch and his heirs apparent, sons Lachlan and James.
“It means it’s very much more expensive for Malone to maintain his position or extend his position in the company and he has to make the judgment as to whether it’s worth it or not,” Reuters quoted Michael O’Sullivan, president of the Australian Council of Superannuation Investors, which advises pension funds on corporate governance issues saying.
The existing holdings of Malone, a long-time ally of Murdoch, would not trigger the rights plan, but additional shareholdings would.
“The logic is to stop anyone acquiring the company or if they’re going to acquire the company, they have to go and speak to the Murdoch interests. It locks the company up effectively,” an analyst who refused to be named told Reuters.
According to News Corp said its move was prompted by Liberty’s decision to engage investment bank Merrill Lynch in a hedging transaction for more than 80 million News Corp. Class B shares.
“There was no communication with the company about that decision before it was made, and it’s too early to tell what Liberty’s intentions are, but we’re not necessarily treating them as friendly,” said News Corp. spokesman Greg Baxter.
Could a Malone takeover change strategy for News Corp’s pan-Asian venture, Star group, including the profitable venture in India? Difficult to say, but a new owner is certain to have his or her own vision, which could result in some expansions lined by Star India to be put in the cold storage.
But that is a big if, considering Murdoch is unlikely to give up control over an empire that he has built up so assiduously.Murdoch has groomed sons Lachlan, News Corp.’s deputy chief operating officer, and James, BSkyB’s chief executive, to eventually run News Corp.
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.
