News Broadcasting
Will private players in Pakistan pound PTV?
More than two years after promising to open the floodgates to private TV channels, General Musharraf this week approved an ordinance that allows private sector television in Pakistan.
The PEMRA Ordinance 2002 allows the establishment of the Pakistan Electronic Media Regulatory Authority that will issue licenses to broadcast media operaters. The move is meant to bring in the element of ‘transparency and an invisible system of accountability through media available at local community, provincial, national, and international levels.’ This spells competition not only for the three state controlled channels in the country, but also to those from across the border that beam their programmes into Pakistan, and have a loyal following.
The Cable TV network, earlier supervised by the IT and T Division, has been brought into the fold of this law and the Pakistan Telecommunication Authority will continue to guide and support its technical side. The PEMRA rules include a Code of Conduct for media broadcasters and CTV operators to ensure decency and responsibility, and a clause stipulating that programming content of broadcasts are to be strictly and regularly monitored. A council of complaints has also been provided in the law to respond to people’s complaints, and recommendations for disciplinary action against broadcasters violating the code of ethics and other provisions of the law have also been provided.
Foreign television channels however will not be allowed entry, nor will licenses be granted to promoters who are not citizens or residents of Pakistan. Among others excluded from setting up shop in Pakistan are foreign companies established under the laws of any foreign government, companies the majority of whose shares are owned or controlled by foreign nationals or companies whose management or control is vested in foreign national or companies.
While the behemoth PTV and its sister channels will perforce have to shape up to match rivals from the private sector, channels like Prime Entertainment Channel (PEC), Indus Vision and ARY Gold targeting the Urdu population, have already built up a reputation in the country.
UAE based satellite channel ARY Gold’s strengths, say reports, lies in its current affairs programmes, while the Prime Entertainment Channel has an interesting line up of shows and soaps. Set up recently,
The PEC is reported to be the only entertainment based channel completely dependent on foreign investment.
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.
