News Broadcasting
Star to distribute Nimbus’ sports channels
MUMBAI: Nimbus Sports Broadcast, the Nimbus Communications subsidiary operating its sports broadcasting business, has entered into a deal with Star India wherein the News Corp network will be distributing its soon to launch bouquet of Neo Sports channels.
The Star-Nimbus distribution deal is a five-year one that runs till 2010 and will apply to the two sports channels that will be launching by the end of the year as well as any future sports channels from the Neo Sports stable.
Both companies also issued categorical denials of a report that appeared in pink paper Economic Times today that News Corp. would be buying roughly a third of Nimbus for around Rs 4 billion ($86 million).
The release stated that Nimbus “is currently not engaged in any dialogue for inducting any new investors, whether financial or strategic.”
Speaking to Indiantelevision.com, Star Entertainment India CEO Sameer Nair was equally categorical that there were no discussions on issues of equity. “This is a specific to India distribution deal, underpinned by cable and of course looking to leverage the potential that DTH offers.” Nair said. The Neo Sports channels will be distributed on the Tata-Sky DTH network in which Star has a 20 per cent stake.
The first of the channels, the cricket centric Neo Sports, is set to be launched within the next three months. This will be followed by Neo Sports Plus, a sports entertainment channel, which is expected to be launched by the end of the year, states a joint statement issued by the two companies.
With nearly 200 days of cricket every year lined up on Neo Sports, of which over 100 days will be live India cricket including all BCCI events and between 3-4 international series every year; Neo Sports expects to reach a majority of the cable & satellite homes.
Nimbus paid $612 million for the telecast rights to the Indian cricket board’s matches for 2006-10.
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.
