MSO LOOKS FOR INVESTMENT PARTNER

Shri Bhawani Cable-tel (SBC), an independent MSO based in Mumbai, is actively looking around for a partner. A public limited firm, SBC has close to 47,000 subscribers in the competitive market of Mumbai, which is controlled by the Hinduja-run InCablenet with 750,000 subscribers. Managed by the Puri brothers, SBC has been hemmed in by InCablenet on one side and MSO Siticable, owned by Zee TV and Rupert Murdoch, on the other, both of who have been intermittently trying to wean away subscribers from it.

Hathway Investments, which took total control of BiTV Cable Networks, another MSO in Mumbai, is believed to be among the front runners to buy out the Puri brothers. The company is conducting a due diligence of the firm. Real estate and wannabe media baron, Rajan Raheja, owns Hathawy. Raheja is pumping in big money to emerge as a major player in the cable networking business.

A local daily reported that the deal had been completed but the Puri brothers say they had had to yet sign on the dotted line.

Industry sources point out that even InCablenet is doing a due diligence of SBC. The independent MSO is believed to be a prized catch for anyone as its network covers the upper middle-class and affluent suburbs of Chembur, Govandi, Sion, and Dadar.