News Broadcasting
Ownership limits need to be relaxed: FCC
MUMBAI: A Federal Communications Commission (FCC) study has revealed that media consolidation has not reduced the variety of programmes on television and radio but has resulted in more TV commercials and similar slants in news coverage in the US.
The study is part of the 12 studies carried out by the FCC and universities across the US as part of its review of media-ownership rules, results of which were made public yesterday. Contrary to the belief that increased media consolidation would result in less local programming, the study concludes that network-owned TV stations provide 23 per cent more local news and public affairs programming than network affiliates. It also reveals that TV stations which are jointly owned with newspapers received higher ratings, won more awards and produced more programmes, say media reports.
The study, say reports, was undertaken after the federal appeals court ordered the agency to provide a “factual base” for some of its media rules . The study has made the following discoveries.
# The number of media outlets in 10 sample markets has nearly tripled since 1960, while the number of their independent owners jumped 139 per cent.
# TV, the Web, newspapers and radio all serve as sources for news-seeking consumers.
# Although the average number of radio station owners has fallen from 13.5 to 9.9 in six years, the average number of programme formats is unchanged at 10.
# The growing presence of national owners of local radio stations has driven down ad rates.
Other rules under review include bans on a broadcaster from owning TV stations that reach more than 35 per cent of US homes, owning two stations in smaller cities and owning a newspaper and TV station in one market, and curbs on local radio concentration.
FCC Chairman Michael K Powell who argued that ownership limits in an era of 200-channel cable TV and the Internet are no longer viable, said the FCC will relax the limits based on the findings, when it completes its review early next year.
Director of the Center for Digital Democracy, Jeff Chester, however has ripped the studies apart saying,”This is not a serious independent analysis. They did studies that would ratify their own preconception of the marketplace,” he has been quoted as saying.
Another study by Joel Waldfogel, professor of business and public policy at the Wharton School at the University of Pennsylvania, reveals that consumers are using the Internet increasingly as a substitute for television news, a finding which can hold the argument that ownership rules are no longer required.
Ironically, these findings contradict findings by a recent Nielsen Media Research survey of 3,000 consumers, who confirm that they mostly used broadcast TV, cable news and daily newspapers to stay informed. The study also reveals that more than 83 per cent rely on TV for national news compared with 21 per cent who use the Internet.
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.
