News Broadcasting
Sun Media, Lenovo Grp to develop broadband business in China
MUMBAI: Sun Media Investment Holdings Ltd., (led by Chinese broadcaster Yang Lan) and the Lenovo Group have formed a joint venture -Sun 365 Multi-media Holdings Ltd., to develop broadband multimedia content and applications in China. The agreement was signed in July 2004.
According to the agreement, the aggregate valuation of Sun 365 is $15 million. Sun Media Investment and Lenovo hold 85 per cent and 15 per cent respectively in the new joint venture. Sun Media will bring to the new company a multimedia production subsidiary in mainland China along with certain marketing rights in connection with the exploitation of Yang Lan’s brand image, and a certain amount of cash.
Lenovo’s non-cash contribution includes the right to use its existing brand FM365. The JV will have the right of first refusal to bundle multimedia content services with the personal computers, mobile communication devices and handsets sold under the Lenovo brand in China. The cooperation is a non-exclusive one. Yang LAN will be the chairperson of the Board of Sun 365.
The new partnership has been formed keeping in mind the huge potential of the emerging broadband multimedia market in China. The principal business of Sun 365 will be to develop multimedia businesses including creation of content and copyrights and development of distribution networks. The detailed applications of the business model of the JV are still under development and no further details are disclosed as of now.
Commenting on the new alliance, Sun Media Investment Holdings chairperson Yang LAN said, ”We are thrilled to be entering into a new venture with Lenovo Group, one of the most trusted and respected names in China’s IT industry. Sun 365 represents the alliance of a leading technology provider and a content provider, ultimately designed to create a richer, more interactive and personalized experience for consumers. We believe Sun 365 is the new paradigm for the development of new media businesses in China.”
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.
