News Broadcasting
Supreme Court to hear Zee’s petition on Monday
NEW DELHI: The Supreme Court today fixed Monday for hearing Zee Telefilm’s petition in the India cricket telecast rights case.
According to sources in Zee Telefilms, the company has also requested the apex court to start the proceedings at the earliest keeping in mind the gravity of the issue.
In its petition, Zee has contended that it is the rightful owner of the cricket rights as it has deposited $ 20 million with the Indian cricket board as per terms and conditions. It has also contended that the cricket board’s decision to cancel an earlier tender process, which saw Zee emerge as the highest bidder with a quote of $ 308 million, is unjust and the court should overturn that decision.
The respondents in the case include the government of India, ESPN-Star Sports, the Board of Control for Cricket in India (BCCI) and PriceWaterhouse Cooper (PwC), the audit firm that vetted the various bids.
Zee had moved the Supreme Court on Wednesday after the BCCI on Tuesday filed an affidavit in the Bombay High Court that it was cancelling the tendering process and would retain the rights of Indian cricket with itself. Immediately after that, ESPN Star Sports, a joint venture between Walt Disney and News Corp, withdrew its petition against the award of the rights to Zee.
Zee had said in its petition that its contract for cricket telecast rights with the BCCI was signed and was not incomplete as the BCCI maintains.
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.
