News Broadcasting
Octagon CSI to focus on advertiser funded programmes
MUMBAI: With the aim of further positioning itself as the preeminent television rights, sales and production house, Octagon CSI has announced the appointment of two senior executives
Australian television executive Michael McKay takes on the role of international production head. Stewart Mison assumes the role of brandcasting VP.
Mison will build a brandcasting division within CSI. This will specialise in the creation, development and implementation of advertiser funded programming (AFP) initiatives. Mison is expected to offer this programming alternative to existing clients within all the divisions of Octagon as well as to sister agencies within the IPG family.
Misons background includes tenure at Trans World International (TWI), the television arm of IMG. At TWI, he ran the barter syndication for the 1994 Winter Olympics and worked closely on broadcast issues with the IOC, Nike and Coca-Cola.
McKay meanwhile will oversee the companys production throughout the world, excluding the Americas. He is expected to build upon Octagons traditional sports production base to include light entertainment and reality style programming.
McKay is familiar with reality programming having served as a producer for CBS reality series The Amazing Race and as executive producer for the innovative docu-reality series Reel Race for Discovery.
Octagon has global expertise in consulting, athletes & personalities, event management, property representation, marketing solutions, licencing and merchandising, talent procurement and television rights and production. Octagon is part of The Interpublic Group.
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.
