News Broadcasting
Star applies for news uplink licence; seven Indian stakeholders reportedly on board
MUMBAI / NEW DELHI: With seven Indian stakeholders reportedly on board, Star India today announced it had applied to the information and broadcasting ministry for permission to uplink its Star News channel from India.
The application has been made under the guidelines issued by the government of India on 26 March for uplinking of news and current affairs TV Channels from India.
Star announced that it had restructured its news channel business so as to conform to the guidelines. As of now Star holds 26 per cent of of the total paid-up capital in Star News with the remaining 74 per cent held by resident Indians.
While Star would not offer any confirmation on who the Indian stakeholders were, reliable industry sources have thrown up the following names: Kumarmangalam Birla, chairman of the Aditya Birla Group, in his personal capacity, Suhail Seth, regular Page 3 face and CEO of Equus Red Cell advertising firm, Vir Sanghvi, television personality and editor of the Hindustan Times, Rian Karanjiwala, the Delhi-based legal advisor to the Star Group, Balaji Telefilms chairman Jeetendra Kapoor and the head of a financial institution in his personal capacity.
Two names have cropped up regarding the last mentioned equity holder. It could be either Hemendra Kothari of DSP Merill Lynch, the FII that was mandated by Star to structure the Star News deal and find Indian partners, or Uday Kotak of Kotak Mahindra. Interestingly, a name that was earlier doing the rounds, Sunil Alagh, the controversial former head of bakery and dairy products major Britannia Industries Ltd, is missing from the list of would-be Indian partners. Replacing him as the seventh equity holder is his wife, television actress Maya Alagh.
As per the information available with indiantelevision.com, Birla holds a 25 per cent share in the Star News venture. Although that means that Birla holds just 1 per cent lesser shareholding than Star, the Rupert Murdoch company still holds the controlling stake. This is because veto power on decisions is possible only if the equity is 26 per cent and above.
At the time of posting this report, the shareholding pattern of the other six Indian partners was not known with any degree of certainty by indiantelevision.com.
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.
