Cable TV
Astro likely to pick up 26 % stake in Hungama TV
MUMBAI: It looks like marriage season in the Indian broadcast sector. Close on the heels of Jagran’s Channel7 getting into an investment deal with Global Broadcast Network, India’s home grown kids channel too seems to have found a suitable partner.
UTV Software Communications-controlled Hungama TV appears to have found a strategic partner in Astro, Malaysia’s largest DTH and pay TV operator. Kiddie channel Hungama TV has been scouting for an investor cum partner for some time now.
According to people close to the deal-making, Astro is likely to pick up a minority stake of up to 26 per cent in the one-and-a-half year-old Hungama TV.
Hungama TV, according to merchant banking sources, has been valued at between Rs 3 billion to Rs 4 billion.
Contacted by Indiantelevision.com today, promoter Ronnie Screwvala of the publicly-traded UTV refused comment, dubbing the information as market speculation.
Though sources close to the deal admitted to the talks being in the final stages of formalisation, they clarified that because of the regulatory environment and the sensitivity involved in such marriages, the deal might take some time to be announced, if it goes through.
As reported by Indiantelevision.com last year, Hungama TV has been holding talks to rope in a strategic investor, shelving its earlier plans to get in a purely equity partner.
“With no pressure on raising funds, we are looking at an investor who would add strategic value. We have initiated discussions. The investor could either be a broadcaster or a content company engaged in kids programming,” UTV Software Communications director, operations and finance, Ronald D’Mello had been quoted earlier as stating.
For the record, it is worth noting that UTV and Astro already have a working relationship in place. Last year, UTV had announced a joint venture with Astro to launch two kids’ channels in South East Asia, targeting the age bracket of 4-14 years. The proposed channels will be on the Astro DTH platform across Malaysia, Indonesia, Brunei and Singapore.
According to earlier announcements, Astro was said to be making the entire capital investment for the launch of the two kids’ channels.
Astro’s presence in India includes interests in FM radio ventures. Recently, Astro, along with the infotech company Value Labs and the Prannoy Roy promoted NDTV, had joined hands to buy out the operations of Living Media Group-controlled Radio Today in three cities.
The company had earlier entered into a $ 25 million (Rs 1125 million) joint venture with Chennai based broadcast powerhouse Sun TV. Both parties aim to collaborate in content creation for filmed and other entertainment products in Indian languages including Tamil, Telugu, Kannada, Malayalam, Hindi and Bengali for distribution to international markets. The agreement also proposes to launch a Bengali channel for distribution in India, South East Asia and other markets within the Bengali diaspora.
UTV scrip opened at Rs 171.45 on the Bombay Stock Exchange (BSE) and closed for the day at Rs 180.
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.
