News Broadcasting
Reuters acquires Action Images Reuters acquires Action Images
MUMBAI: Global news agency Reuters has acquired Action Images, the specialist sports photography agency in a deal designed to continue the expansion of Reuters global picture business.
The deal brings together Reuters global sports coverage with Action Images’ archive of more than fifty years of sports photography and a highly successful editorial and commercial photography business.
The London based Action Images has been in the sports photography business for the past two decades. Its clients include major sports clubs and governing bodies, international media publishers and sponsors. It has a team of photographers working on editorial and commercial assignments, and has developed an archive of more than seven million sports images stretching back over 50 years with more than 1.5 million available online. The deal enables Reuters to expand the sale of its pictures beyond its traditional media client base into the commercial market, and to build the Action Images brand in markets outside the UK. Action Images will also have access to Reuters world class sports news text and graphics, and will use these to create multi-media products for its clients.
Reuters has acquired Image Group the holding company of the Action Images group. The gross assets of Image Group Limited as of December 2004 amounted to ?1,821,494. Reuters will retain the Action Images brand and its founder David Jacobs is remaining as MD of the Action Images business. Reuters global head of news and pictures Monique Villa, becomes Action Images chairman and Phillip Kelly will be its CEO.
Villa said, “Bringing together Reuters world class sports photography with Action Images position in the editorial and commercial market is a really powerful combination. It is an important part of the ongoing investment and expansion of our picture business, allowing us to reach new market places and cement our position in existing ones.”
Jacobs said, “This is a huge opportunity for Action Images. It allows us to take our business to the next level creating multi-media packages for our clients and reaching out to a truly global audience. It really opens up the sports photography marketplace, creating a new alternative for publishers, sponsors and sports bodies.”
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.
