News Broadcasting
Reliance Industries gets board approval to fund Network18 group acquisition
MUMBAI: We predicted that the executive exodus at Network18 was a precursor to Reliance Industries Ltd (RIL) engineering an acquisition. (Read: More Network18 senior management to exit as Reliance begins to take full control) of the Raghav Bahl led Network18 Media.
And it has turned out to be true. RIL, late this evening, announced to the BSE that it has got board approval to pump in Rs 4,000 crore into the Independent Media Trust (IMT), of which RIL is the sole beneficiary, for acquisition of control in Network18 Media & Investments Ltd (NW18), including its subsidiary TV18 Broadcast Ltd (TV18) and the open offers to be made consequent to the acquisition.
NW18, as is known is the owner of a premier suite of digital internet properties, ecommerce businesses, and differentiated broadcast content.
IMT is expected to use the funds to acquire control over NW18 and TV18 resulting in the ownership of about 78 per cent in the former and 9 per cent in the latter and to acquire shares tendered in the open offers.
Further in terms of SEBI (substantial acquisition and takeover regulations) 2011, IMT would be making an open offer to public shareholders for acquisition of NW18, TV18 and Infomedia Press Ltd equity shares. IMT would be simultaneously making a public announcement under takeover regulations. RIL would be a person acting in concert to the open offers.
The acquisition will help differentiate the RIL 4G business, says the press release, by providing a unique amalgamation at the intersect of telecom, web and digital commerce via a suite of premier digital properties. The suite includes: in.com, IBNLive.com, Moneycontrol.com, firstpost.com, cricketnext.in, HomeShop18, bookmyshow.com. The broadcast channels include: Colors, CNNIBN, CNBCTV18, IBN7 and CNBC Awaaz.
“It was bound to happen,” says a media observer. “Mukesh Ambani has made a huge 4G play. He needs content to be pumped over the network to make the 4G investment pay off more, because consumers need video on 4G. By acquiring the NW18 and TV18 properties, he’s got a quick entry into the content and ecommerce space. However, RIL, which, is very financially driven, will do well to leave the content creators alone and not try and force too much financial efficiencies onto them. If they do allow the creative to flow with some financial caution as is the practice in NW18 and TV18 group, then they could well have a robust, differentiated content business. Otherwise…”
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.
