News Broadcasting
Star plans radio re-entry, to pick up 20 per cent in Radio City
MUMBAI: Star Group plans to pick up 20 per cent in Music Broadcast Pvt. Ltd. (MBPL), marking a re-entry into the private FM radio business.
Star is buying the stake from India Value Fund, (earlier GW Capital) a venture capital fund. With this, India Value Fund’s holding will drop from 75 per cent to 55 per cent.
In early 2005, Star had sold its stake in MBPL, the company which operates its FM radio stations under the Radio City brand, for Rs 300 million. India Value Fund had acquired a controlling stake in MBPL.
“Star is buying back the 20 per cent it had sold earlier in MBPL. The radio business is set to explode with the government changing its policy and opening up the second phase of private FM expansion,” says a source close to the company. He, however, could not confirm the price Star is paying to acquire the stake.
MBPL chief executive officer Apurva Purohit was not available for comment. Star officials also could not be reached. The government regulations permit only 20 per cent foreign direct investment (FDI) in the FM radio business.
In May 2005, Star had discontinued its arrangement of supplying content to MBPL. Later in the year the country’s biggest television network in terms of revenue also ceased doing air time sales for Radio City.
Since the inception of Radio City, MBPL had contracted Star to provide its expertise in the areas of programming, ad sales and marketing. The operations were handled through DigiWave, a 50:50 joint venture between Star and the PK Mittal-promoted Ispat group.
Radio City is already operational in seven cities comprising Mumbai, Delhi, Bangalore, Lucknow, Hyderabad, Chennai and Jaipur. The plan is to launch in 13 more cities including Ahmedabad, Surat, Baroda, Sangli, Akola and Nagpur.
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.
