Cable TV
Den demerger from Skynet approved, saving on AGR
MUMBAI: Cable television service-provider MSO Den Networks has stated that it has received shareholders’ nod to demerge its broadband/internet service provider arm Skynet Cable Network. Den Networks, on 11 March 2017, wrote to the National Stock Exchange and the Bombay Stock Exchange Limited about the conclusion of court-convened meeting.
According to a source among Den shareholders, the demerger had been prompted because of adjusted gross revenue (AGR) of eight per cent levied on the broadband business Skynet. Prior to the demerger, this AGR was being levied on Den as a whole whereas it is not applicable to cable TV.
The company had convened a meeting of its shareholders following the orders of the National Company Law Tribunal for this purpose. “The scheme of arrangement has been approved by members of the company,” said Den Network in a regulatory filing signed by company secretary Jatin Mahajan.
In September last year, Den Networks’ board had approved to demerge Skynet Cable Network. It was done to “enhance competitiveness and greater accountability”, “achieve structural and operational efficiency”, and to have “a focused attention in the ISP business,” it had said. Its broadband/ISP arm had a turnover of Rs 40.63 crore in FY 2015-16 and contributed 3.53 per cent shares in its total revenue.
In the 11 March 2017 meeting, it stated thus: “This is to inform you that, pursuant to an Order by the Principal Bench of the National Company Law Tribunal (“NCLT”), New Delhi, a Meeting of the Equity Shareholders/Secured Creditors and Unsecured Creditors of DEN Networks Limited (“DEN”) has been conducted at PHD Chamber of Commerce, No. 4/2, Sin Institutional Area, August Kranti Marg, New Delhi- 110016 on Saturday, 11th March, 2017, for the purpose of considering and, if thought fit, approving with or without modification(s), the arrangement embodied in the Scheme of Arrangement of DEN or Transferor Company and Skynet Cable Network Private Limited (“SYKNET” or “Resulting Company”), through which Internet Service Provider (ISP) Business / Broadband Undertaking of DEN will demerge into SKYNET, a wholly owned subsidiary of DEN.”
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.
