News Broadcasting
Network18 reports improved numbers for Q1
BENGALURU: Network18 Media & Investments Ltd (Network18) reported year over year (y-o-y) growth in consolidated operating revenue for the quarter ended 30 June 2018 (Q1 2019, quarter or period under review) as compared to the year ago quarter (Q1 2018). The company reported consolidated operating profit (EBITDA) of Rs 18 crore in Q1 2019 as compared to a loss of Rs 2 crore during the corresponding year ago quarter. Consolidated operating revenue grew 10 percent y-o-y during the quarter under review to Rs 1,124 crore from Rs 1,025 crore in Q1 2018 on a comparable basis.
Network18 chairman Adil Zainulbhai said: “We have begun the new fiscal with improved viewership across our portfolio, which shall be the foundation for our growth plans. We continued investments in regional news and entertainment and in digital. We continue to see opportunities in the media space.”
TV18 Broadcast Limited
TV18 Broadcast Ltd (TV18) is the listed Network18 broadcast subsidiary and the largest contributor to its numbers. Its consolidated revenues increased 11.1 percent y-o-y in Q1 2019 to Rs 1,088 crore from Rs 979 crore. TV18 consolidated operating profit (EBITDA) almost tripled (2.79 times) y-o-y to Rs 39 crore in Q1 2019 as compared to Rs 14 crore.
TV18’s growth in revenue was led by Viacom18 and Indiacast revenue for which climbed by Rs 73 crore (a little less than 10 percent) y-o-y during the quarter under review to Rs 832 crore from Rs 759 crore. The company’s business and general news had revenue growth of 14 per cent (Rs 20 crore) y-o-y in Q1 2019 at Rs 173 crore as compared to Rs 153 crore. Regional news (Ex Lokmat) and infotainment had revenue growth of 24 per cent (Rs 16 crore) during the quarter under review at Rs 83 crore as compared to Rs 67 crore in Q1 2018.
In its investor update, Network18 says that TV18’s subscription revenue increased 10 percent y-o-y during the period under review to Rs 301 crore from Rs 273 crore in Q1 2018.
Growth in operating profit (EBITDA) was led by business and general news with 25 per cent (Rs 7 crore) y-o-y growth at Rs 35 crore in Q1 2019 as compared to Rs 28 crore in Q1 2018. Viacom18 and Indiacast had 13 per cent y-o-y growth in operating profit at Rs 26 crore from Rs 23 crore in Q1 2018. Operating loss of regional news (Ex Lokmat) and infotainment declined to Rs 22 crore in Q1 2019 from operating loss of Rs 37 crore.
The numbers mentioned above have been obtained from TV18’s Investor update. It may be noted that Viacom18 and Indiacast became subsidiaries of TV18 from 1 March 2018. Hence, reported financials of TV18 consolidate these entities only from that date. Other y-o-y numbers are not comparable.
“Our television channels reach out to 700 million people across the country, making every 1 in 2 Indians our consumer. We have 53 domestic channels across news and entertainment, making us a formidable player. The improving advertising environment and our rising viewership are positives, as we continue investing into growing our offerings across genres,” said Zainulbhai in a TV18 investor update.
Network18 Digital, Print and others
Network18 Digital, Print and others revenue declined 22 per cent y-o-y in Q 2019 to Rs 36 crore from Rs 46 crore in the year ago quarter. Operating loss (EBITDA) increased to Rs 21 crore from Rs 16 crore.
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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