Digicable to absorb subsidiaries with itself

MUMBAI: Digicable Network (India), which is being acquired by Reliance Communications in an all-stock deal, has proposed to absorb its cable TV subsidiaries across the country with itself.

The subsidiaries that would be amalgamated include Life Style Communications (cable network in Hyderabd), Central India Digital Network (Jaipur), Digi Multinational Network (Delhi), Digi Ruby City Network (Hyderabad), Digi Maharaja Network, Digi Raigadh Network, Digicable Central (India) Cable Network and Digi Corporate Services ( a services company).
The decision to amalgamate all the subsidiaries will enable Digicable Network to have a strong financial and operational structure. Digicable will be capable of mobilising resources and the financial consolidation will be necessary to withstand the new competitive environment.

The amalgamated company will, thus, have the benefit of synergy and stability of operations, helping it to achieve economies of scale through efficient utilisation of resources and facilities. The companies concerned would be able to combine their resources, expand their activities, rationalise and streamline their management, business and finances as well as eliminate duplication of work to their common advantage.  
The Bombay High Court is seeking the nod from the unsecured creditors to the Scheme of Arrangement. The appointed date of the Scheme will be 1 April 2009.

Digicable will take up the debts, liabilities, duties and obligations of the companies that are to merge under the Scheme.

The authorised share captal of Digicable is Rs 1 billion, divided into 20 million equity shares of Rs 10 each and 80 million redeemable preference shares of Rs 10 each.

Latest Reads
Pune Times joins hands with the Pune Police to launch the 'City Safe' app, as part of #MakeMyCitySafe initiative

Pune Times, city supplement of leading media house, The Times of India, has joined hands with Pune Police to support an initiative for women’s safety in the city. Pune Times has launched its campaign #MakeMyCitySafe as a big shout out to the youth of Pune to come together to make the city safer...

Technology Software Applications
HAL Robotics ropes in Navanit Samaiyar as board member and advisor

MUMBAI: HAL Robotics has roped in Navanit Samaiyar as its board member and advisor. Samaiyar has a record of setting up, scaling and transforming businesses across a very wide cross section of industries spanning from IT/ ITeS to steel, telecom, engineering goods, earthmoving machinery, logistics...

Technology Hardware Components
Republic TV launches Android app

MUMBAI: Republic TV is on a roll. From rocking the ratings chart in launch week itself to going international, the channel has added one more accomplishment to its kitty. The Republic TV Android app is now live.

Technology Software Applications
STB cos in India, China enhancing features, providing customised solutions, Technavio enlists top vendors

MUMBAI: The global STB market is characterised by intense competition as the market is saturated in developed countries. The market share of these players is declining because of the entry of new players. The STB companies are enhancing the features of STBs and providing customised solutions to...

Technology Hardware Set-top Boxes
India's PFT Clear Media ERP suite to help US' PBS content delivery

MUMBAI: Prime Focus Technologies (PFT), the technology arm of Prime Focus, announced that its CLEAR™ Media ERP Suite has been selected by Public Broadcasting Service (PBS) to enhance their Network Operations Center (NOC) ecosystem efficiencies and sustainability, with the objective of reducing...

Technology Software Applications
Broadcasters, OTTs to gain as Via adds xHE-AAC at special rate

MUMBAI: Via Licensing Corporation, a intellectual property solutions provider, has announced the upcoming availability of Extended High Efficiency AAC (xHE-AAC) as part of the Advanced Audio Coding (AAC) patent pool. The expanded patent pool licence will be available at no additional cost to...

Technology Software Applications
Tata Comm to deliver Motorsport videos on global devices

MUMBAI: Tata Communications will now deliver video content for viewers' all devices over its global network. The two have partnered to power the growth of the network’s internet television platforms.

Technology Software Applications
How to create live video content sans pros, convert radio broadcast into visual show

MUMBAI: ChyronHego will be showcasing its live production, automation solutions at Broadcast India show in Mumbai in mid-October.

Technology Software Applications
Sony renews IP licence deal with TiVo

MUMBAI: TiVo Corporation, a leader in entertainment technology and audience insights, has announced that Sony Corporation, a leader in consumer electronics, has renewed its multi-year intellectual property (IP) licence agreement. The license to TiVo’s patent portfolios covers all of Sony’s...

Technology Software Applications

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories