Network18 Faces Major Restructuring Amidst Q4 Financial Turbulence

Network18 Media & Investments Ltd reported a significant loss of Rs 1,400 crore in Q4, influenced by the merger of its subsidiary Viacom18 with Star India. Despite a standalone profit driven by exceptional gains, the company's TV advertising faced challenges. The merger created a large broadcasting entity.

Network18 Media & Investments Ltd reported a substantial Rs 1,400 crore loss for the December quarter. Despite earning revenue of Rs 1,360.50 crore, figures are skewed due to Viacom18's merger with Star India.

The company, however, revealed a profit before exceptional items amounting to Rs 25.68 crore and faced a consolidated loss of Rs 1,425.73 crore, largely attributed to subsidiary derecognition on a provisional basis.

The merger, completed on November 14, resulted in significant restructuring, simplifying the corporate structure. With a 6.3% economic interest through the holding in Viacom18, the restructuring promises future growth, despite current advertising challenges in a soft market.

(With inputs from agencies.)