News Broadcasting
US Justice Dept. clears Intelsat-PanAmSat merger
MUMBAI: PanAmSat Holding Corporation has announced that the United States Department of Justice is closing its antitrust investigation of the company’s proposed merger with satellite provider, Intelsat Ltd. The Justice Department is not seeking any conditions and is not otherwise commenting on, the proposed merger.
The transaction, in which Intelsat is to acquire PanAmSat for $3.2 billion in August, remains under review by the U.S. Federal Communications Commission (FCC), states an official release.
“PanAmSat today has worked hard to become one of the world’s leading providers of standard and high-definition television signals, with a highly reliable satellite fleet, top-notch service and a professional style of management,” said PanAmSat CEO Joe Wright. “We’ve reached the point where this merger with Intelsat makes a lot of sense for our shareholders, customers and employees. You won’t be able to match the combined quality of these two companies. We look forward to our new relationship with Dave McGlade, his management team and his employees.”
Commenting on the same, Intelsat Chief Executive David McGlade said, “With the Justice Department’s decision not to challenge our transaction, we are moving full speed ahead with our integration planning and preparations.
“We will be finalizing our financing over the next few weeks and should be in a position to close soon after receiving FCC approval.”
Intelsat and PanAmSat announced their merger agreement on 29 August 2005. Under the agreement, Intelsat will acquire PanAmSat for $25 per share in cash, or $3.2 billion. In addition, approximately $3.2 billion in debt of PanAmSat and its subsidiaries will remain outstanding or be refinanced. Closing of the transaction is subject, among other things, to the receipt of financing by Intelsat and to obtaining regulatory approval from the FCC, adds the release.
In addition, all other regulatory approvals required prior to closing have been obtained.
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.
