News Broadcasting
Discovery revenues cross $3 billion
MUMBAI: Global media firm Discovery has announced its results for the fourth quarter and year ended 31 December 2006.
Its revenue increased 16 per cent for the quarter to $899 million and 13 per cent for the year to $3.01 billion. DCI’s operating cash flow increased five per cent for the quarter to $194 million and 5% for the year to $722 million. Total revenue increased due to increases in distribution revenue of 16 per cent for the quarter and 20 per cent for the year and increases in ad revenue of 14 per cent for the quarter and five per cent for the year.
In the US revenue increased 16 per cent for the quarter to $516 million and 10 per cent for the year to $1.93 billion. Operating cash flow increased 22 per cent for the quarter to $181 million and 13% for the year to $727 million. The increases in revenue were due to growth in distribution and advertising revenue across the portfolio.
Distribution revenue increased 13 per cent for the
quarter and 18 per cent for the year due to an 11 per cent increase in paying subscription units during the year and contractual rate increases. DCI experienced ratings increases during the year at three of its largest networks, the Discovery Channel, TLC and the Travel Channel. Net ad revenue increased 14 per cent for the quarter and two per cent for the year primarily due to higher ad sell-out rates and higher audience delivery on certain channels.
Operating expenses increased by 13 per cent for the quarter and nine per cent for the year due to an increase in programming expense. Programming expense increased due to the company’s continued investment across all U.S. networks in original productions and series and specials.
Its revenue from abroad increased by 17 per cent for the quarter to $256 million and 19 per cent for the year to $879 million. Operating cash flow decreased 29 per cent for the quarter to $24 million and increased eight per cent for the year to $116 million. The increase in revenue was due to growth in both distribution and ad revenue.
Net distribution revenue increased 22 per cent for the quarter and 23 per cent for the year due to a 13 per cent increase in paying subscription units combined with contractual rate increases in certain markets. Growth in paying subscription units was primarily due to growth in Europe and Latin America. Net advertising revenue increased 13% for the quarter and 14 per cent for the year primarily due to higher viewership in Europe and Latin America combined with an increased subscriber base in most markets worldwide.
Operating expenses increased 26 per cent for the quarter and 21 per cent for the year due to increased programming costs. Programming costs increased due to the launch of several networks along with a new free-to-air channel in Germany branded as DMAX. SG&A expenses increased due
to infrastructure expansions in Europe and Asia and an increase in marketing expense resulting from marketing campaigns in Europe and Asia for the launch of new channels.
Revenue in the commerce, education and other divisions increased by 15 per cent for the quarter and nine per cent for the year. The quarter over quarter increase was due to a 29 per cent, or $3 million, increase in education revenue combined with a 13 per cent, or $14 million, increase in commerce revenue.
Last year David Zaslav took over as Discovery’s president and CEO. Discovery recently announced a series of structural and personnel changes in order to grow further. A number of positions were eliminated like the post of Discovery US president.
As part of Discovery’s effort to build a lean and aggressive organisation, network general managers will have full authority and accountability to grow their brands. Discovery will be organized into five network brand groups reporting to the CEO: Discovery Channel, TLC, Discovery Travel Media, Animal Planet/Discovery Kids Media and Discovery Health Media Enterprises.
The leaders of the network brand groups will assume additional authority over key business functions including production, marketing, new media, communications and research and will have dedicated brand support from ad sales and business development.
News Broadcasting
Barc forensic audit in TRP row awaits as Twenty-Four probe gathers pace
KERALA: A forensic audit commissioned by the Broadcast Audience Research Council (BARC) India has emerged as the centrepiece of the government’s response to fresh allegations of television rating point manipulation involving a regional news channel in Kerala, with both the audit findings and a parallel police investigation still awaited.
Replying to a query in the Lok Sabha, minister of state for information and broadcasting L Murugan, said Barc had appointed an independent agency to conduct a forensic probe into the conduct of senior personnel allegedly linked to the case.
The move followed media reports claiming that a Barc employee had accepted bribes to manipulate viewership data in favour of a regional television news channel.
“The report from BARC is still awaited,” Murugan told Parliament, signalling that the forensic exercise remains ongoing.
Industry specialists say forensic audits are crucial in alleged TRP fraud cases, as they examine internal controls, data access trails, panel household integrity, staff communications and financial transactions. The outcome could determine whether the alleged manipulation was an isolated breach or a deeper systemic weakness in India’s television measurement framework.
Running alongside the audit, the Kerala Police has formed a special investigation team to probe the allegations. The ministry has sought a preliminary report from the state’s director general of police, including details of action taken on the first information report. That report, too, is yet to be submitted.
The episode has revived long-standing concerns over the vulnerability of India’s TRP system, particularly in regional news markets where competition for ratings is fierce and advertising revenues hinge on weekly viewership rankings.
India’s sole television audience measurement body Barc, has faced scrutiny before, most notably during the nationwide TRP controversy involving news channels in 2020. While tighter compliance norms were introduced in the aftermath, the latest allegations suggest enforcement challenges may persist.
On regulatory consequences, the government said any punitive action against television channels, including suspension or cancellation of uplinking and downlinking permissions, would be governed by the Policy Guidelines for Uplinking and Downlinking of Television Channels issued in November 2022, and would depend on investigation outcomes and due process.
The ministry also pointed to ongoing efforts to overhaul the ratings ecosystem. Television measurement continues to be regulated under the Policy Guidelines for Television Rating Agencies, 2014. Draft amendments were released for public consultation in July 2025, followed by a revised version in November 2025, aimed at tightening audit mechanisms and improving transparency and representativeness.
In November 2025, Barc said it had taken note of allegations aired by Malayalam news channel Twenty-Four, which linked an internal employee to irregularities in audience measurement. The council said it had engaged a “reputed independent agency” to conduct a comprehensive forensic audit, underscoring the seriousness of the claims.
The ratings system sits at the heart of India’s broadcast advertising economy, shaping billions of rupees in annual ad spends. With trust in audience data once again under strain, advertisers, broadcasters and regulators are closely watching the outcome of the investigations.
Barc has urged industry stakeholders and media organisations to exercise restraint while the probe is underway, calling for an end to “unverified or speculatory claims” and reiterating its commitment to integrity and accountability.
Until the forensic audit and police findings are submitted and reviewed, the government said it would refrain from drawing conclusions.
News Broadcasting
Rajat Sharma defamation row: Delhi court summons Congress leaders Ragini Nayak, Pawan Khera and Jairam Ramesh
NEW DELHI: A Delhi court has ordered the summoning of senior Congress leaders Ragini Nayak, Pawan Khera and Jairam Ramesh in a criminal case filed by veteran journalist Rajat Sharma, sharpening a legal battle over alleged defamation and doctored digital content.
The order was passed on Monday by Devanshi Janmeja, judicial magistrate first class at Saket Courts, after the court found prima facie grounds to proceed under multiple sections of the Indian Penal Code, including forgery, creation of false electronic records and defamation.
Sharma, chairman and editor-in-chief of India TV, had approached the court over allegations made in June 2024 that he had used derogatory language against Congress spokesperson Ragini Nayak during a live television debate. He denied the charge, claiming it was fuelled by a manipulated video circulated online.
According to the complaint, a clipped version of the broadcast carrying superimposed captions, which were not part of the original programme, was first shared on social media platform X by Nayak and later amplified through retweets and public statements by Khera and Ramesh. Sharma said the viral spread caused serious reputational harm and personal distress.
The court took note of forensic science laboratory findings that pointed to visible post-production alterations in the video, including added titles and captions. It also cited witness testimonies from those present during the live broadcast, who stated that no abusive or objectionable language had been used.
In a related civil matter, the Delhi High Court had earlier observed a prima facie absence of abusive remarks and directed the removal of the disputed social media posts.
With criminal proceedings now set in motion, the case adds to mounting scrutiny around political messaging, digital manipulation and accountability on social media platforms.
News Broadcasting
Mukesh Ambani, Larry Fink come together for CNBC-TV18 exclusive
Reliance and BlackRock chiefs map the future of investing as global capital eyes India
MUMBAI: India’s capital story takes centre stage today as Mukesh Ambani and Larry Fink sit down for a rare joint television conversation, bringing together two of the most powerful voices in global business at a moment of economic churn and opportunity.
The Reliance Industries chief and the BlackRock boss will speak with Shereen Bhan, managing editor of CNBC-TV18, in an exclusive interaction airing from 3:00 pm on February 4. The timing is deliberate. Geopolitics are tense, technology is disruptive and capital is choosier. India, meanwhile, is pitching itself as a long-term bet.
The pairing is symbolic. Reliance straddles energy transition, digital infrastructure and consumer growth in the world’s fastest-expanding major economy. BlackRock, the world’s largest asset manager, oversees more than $14 tn in assets and sits at the nerve centre of global capital flows. When the two talk, markets tend to listen.
Fink’s appearance marks his third India visit, a signal of the country’s rising strategic weight for the Wall Street-listed firm, which carries a market value above $177 bn. His earlier 2023 trips included an October stop in New Delhi, where he met both Ambani and Narendra Modi.
India is now central to BlackRock’s expansion plans, notably through its joint venture with Jio Financial Services. Announced in July 2023, the 50:50 venture, JioBlackRock, commits up to $150 mn each from the partners to build a digital-first asset-management platform aimed at India’s swelling investor class.
The backdrop is robust. BlackRock ended 2025 with record assets under management of $14.04 tn, helped by $698 bn in net inflows, including $342 bn in the fourth quarter alone. Scale gives Fink both heft and a long lens on where money is moving.
He has been openly bullish on India. At the Saudi-US Investment Summit in Riyadh last year, Fink argued that the “fog of global uncertainty is lifting”, with capital returning to dynamic markets such as India, drawn by reforms, demographics and durable return potential.
Expect the conversation to range beyond balance sheets, into technology’s role in finance, access to capital and the mechanics of sustainable growth in a fracturing world order. For investors and policymakers alike, it is a snapshot of how big money is thinking about India.
At a time when capital is cautious and growth is contested, India wants to be the exception. When Ambani and Fink share a stage, it is less a chat and more a signal. The world’s money is still looking for its next big story, and India intends to be it.
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