Cable TV

Siti Cable acquires stakes in 7 MSOs; to raise Rs 680 crore

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/cable_tv_images/2016/01/06/126_1.jpg?itok=-Iu4McL6

MUMBAI: Siti Cable Network has acquired varying amounts of equity stakes in as many as seven multi system operators (MSOs).

Amongst these is also the Mumbai based cable and television service provider Scod 18 Networking, in which the company picked up a 76 per cent stake.

Additionally, Siti Cable has also acquired equity stake in six other smaller companies. While the company acquired 100 per cent stake in Variety Entertainment, it picked up 51 per cent stake each in Sai Star Digital Media, Bargachh Digital Communication Network and Krishna Teja Digital Entertainment. It also picked up 49 per cent stake each in Siti Faction Digital and Siti Jony Digital Cable Network.

Siti Cable Network is also planning to raise up to Rs 680 crore through issuance of warrants and optionally fully convertible debentures (OFCDs) to promoter companies.

In a BSE filing the company said that the Board of Directors approved, subject to shareholders' approval, issuance of 14,28,57,143 number of warrants convertible at option of the holder in one or more tranches to Direct Media & Cable and/or Arrow Media & Broadband, entities forming part of promoter/promoter group of the company at Rs 35 per warrant, the total value of warrants shall not be more than Rs 500 crore.

The company will also issue 51,428,571 OFCDs to Digital Satellite Media & Broadband, entity forming part of promoter/promoter group of the company at Rs 35 per OFCD, the total value of OFCDs shall not be more than Rs 180 crore.

A source at Siti Cable informed Indiantelevision.com that the funds for the acquisitions would be sourced internally, and that the Rs 680 crore that were being raised would be to boost internal resources.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/07/04/Jio.jpg?itok=BodwQwwF
Jio & Hathway continue to lead wireless and wired Internet subs growth in 2018

India witnessed 1.74 percent growth in broadband internet customers in the month of April 2018 (Apr-18, month under review) according Telecom Regulatory Authority of India (TRAI) data for the month ended 30 April 2018. Hence, 71.90 lakh (7.19 million, 0.719 crore) broadband subscribers were added...

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/07/03/hathway.jpg?itok=XgUL_9ed
Hathway ropes in Sitendu Nagchaudhuri as new CFO

Leading cable operator Hathway Cable and Datacom Ltd has appointed Sitendu Nagchaudhuri as the new chief financial officer (CFO). The fellow chartered accountant’s experience in the field of corporate finance, commercial and strategy leadership spans over 27 years.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/mike.jpg?itok=trEApP9h
Sony to bring Pictures, TV division under one roof

Sony Pictures TV is set to merge international TV operations to bring its television networks, home entertainment and distribution businesses together. This shuffle may lead to some job cuts, with many senior executives from Sony having already departed.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/19/en.jpg?itok=D3gT426Y
DEN Network fixed-line b’band biz plan hinges on partnerships & leveraging present infra

MUMBAI: With telcos handing out data at cheap rates in various package sizes under innovative schemes, mobile data consumption has increased rapidly in India in the last few years, while the growth of fixed-line broadband (FLBB) users has been tepid, if not completely static. MSO DEN Networks now...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/15/den.jpg?itok=QQbrO9t0
DEN aims to convert 10% of SD subscribers to HD in a year

DEN Networks CEO SN Sharma has set a target of converting 10 per cent of its standard definition (SD) subscribers to high definition (HD) within a year.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/15/gtpl.jpg?itok=iHTj8qw9
GTPL Hathway appoints Viren Thakkar as new chief financial officer

GTPL Hathway , one of the major players in the Indian cable TV and broadband industry, has appointed Viren Thakkar as chief financial officer of the company. The appointment ,which will come into effect from 2nd July, was posted on the Bombay Stock Exchange (BSE) website.

Cable TV People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/13/hathway.jpg?itok=j_Ps51Lv
Hathway plans to seed 2.5 lakh high definition set top boxes in FY19

Going along the lines of FY18, broadband and cable TV service provider Hathway Cable and Datacom is planning a Capex of Rs 310 crore in FY19. In addition to that, it plans to seed 2.5 lakh high definition (HD) set top boxes (STB) in FY19. The company had 2.16 lakh HD subscribers at the end of...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/05/gtpl.jpg?itok=f9kTo-vP
Jayanta Pani Resigns as CFO of GTPL Hathway

Jayanta Pani chief financial officer (CFO) of GTPL Hathway has decided to part ways with the company. Pani's last working day at GTPL, where he joined in November 2008, will be 30th June.

Cable TV People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/01/tv.jpg?itok=Ky_blUZ3
VITEC and ATX join hands for distribution of IPTV content

VITEC, a worldwide leader in advanced video encoding and streaming solutions, and ATX Networks, a technology leader of optical and media access platforms, has announced a strategic partnership to provide a fully secure architecture for distribution of IPTV content throughout the enterprise network...

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories