Cable TV
DEN Networks takes control of Snapdeal home shopping JV
MUMBAI: Jasper Infotech CEOs Kunal Bahl and Rohit Bansal are working on getting their ecommerce platform Snapdeal in ship shape by focusing on customer satisfaction and net revenues instead of gross merchandise value (GMV). This follows the march that rivals such as Flipkart and Amazon have stolen from it.
Getting rid of any diversifications and other assets that are not scaling up is probably part of the fitness plan. And that explains why the company has decided to divest its equity stake in Macro Commerce Private Ltd, which operates the DEN-Snapdeal home shopping channel.
When it was launched as a 50:50 joint venture with cable TV MSO DEN Networks with much hype last year, Bahl had stated that he was targeting Rs 500 crore in revenues from TV commerce in year one.
The numbers did not stack up and Snapdeal TV did a turnover of Rs 3.17 crore in 2015 and Rs 28 crore in 2017.
DEN Network promoter Sameer Manchanda probably has more faith in the home shopping television initiative than Bahl. Hence, late last week DEN informed the Bombay Stock Exchange that it was buying an additional 32.87 per cent stake in the company from Jasper Infotech at a cost of Rs 60 million. Rs 10 million is for purchase of existing shares and Rs 50 million is through a rights issue, which will lead to an infusion of funds into Macro Commerce.
Post the acquisition, DEN Networks’ shareholding will rise to 82.87 per cent in Macro from the 50 per cent currently.
The purpose of the deal, the cable MSO says, is to take a controlling stake in the venture, expand the business and effectively manage the operations of the TV channel.
The market responded well to DEN Networks’ announcement: its shares rose to Rs 94.70 in early morning trades, then dropped to Rs 89.90 – a rise of 0.35 paise over its previous close by day’s end.
Cable TV
Hathway Cable appoints Gurjeev Singh Kapoor as CEO
Leadership change comes as cable TV faces shrinking subscriber base and modest earnings pressure
MUMBAI: Hathway Cable and Datacom has tapped industry veteran Gurjeev Singh Kapoor as chief executive officer, marking a leadership pivot at a time when India’s cable television business is under mounting strain.
Kapoor will take over from Tavinderjit Singh Panesar, who is set to retire in August after a long innings with the company. Panesar, chief executive since 2023, has held multiple leadership roles at Hathway, including his latest stint beginning in 2022.
Kapoor brings more than three decades of experience in media and entertainment. He most recently led distribution at The Walt Disney Company’s Star India business, now part of JioStar. His career spans television distribution and affiliate partnerships, with stints at Sony Pictures Networks India, Discovery Communications and Zee Entertainment.
Panesar, with over three decades in the industry, has worked across strategic planning, distribution and business development in media, broadcasting and manufacturing. His past associations include ESPN Star Sports, Star India, Apollo Tyres and JK Industries.
The transition lands as the cable sector grapples with structural disruption. Traditional operators are losing ground to streaming platforms, while telecom and broadband players tighten the squeeze with bundled offerings.
An EY report estimates India’s pay-TV base could shrink by a further 30 to 40 million households by 2030, taking the total down to 71 to 81 million. The slide follows a loss of nearly 40 million homes between 2018 and 2024, a contraction that has already wiped out more than 37,000 jobs in the local cable operator ecosystem.
Hathway’s numbers reflect the strain. The company reported a consolidated net profit of Rs 93 crore for FY25, down from Rs 99 crore a year earlier. Revenue inched up to Rs 2,040 crore from Rs 1,981 crore. As of December 2025, it had about 4.7 million cable TV subscribers and roughly 1.02 million broadband users.
Kapoor steps in with a familiar brief but a shrinking playbook. In a market where viewers are cutting cords faster than companies can reinvent them, the new chief executive inherits a business fighting to stay plugged in.
