Cable TV
Den Networks calls off merger with Hathway, TV18
KOLKATA: Multi-system operator Den networks has decided not to proceed with the scheme under which TV18 Broadcast, Hathway Cable & Datacom and Den Networks were to merge into Network18 Media & Investments.
“Considering that more than a year has passed from the time the board considered the scheme, the board of the company has decided not to proceed with the arrangement envisaged in the scheme,” it said in a regulatory filing.
In February 2020, Reliance Industries announced a consolidation of its media and distribution businesses spread across multiple entities into Network18. It was planned that the broadcasting business would be housed in Network18 and the cable and ISP businesses in two separate wholly owned subsidiaries of Network18. The restructuring would create value-chain integration, and render substantial economies of scale, Reliance said at that time.
The shareholders are aware that the scheme was filed with both the Bombay Stock Exchange and National Stock Exchange for their no-objection letter, Den Networks stated in the latest filing.
“The Company had also disclosed in its quarterly financial results for the quarters ended 30 June 2020 and 30 September 2020, that the stock exchanges had returned the scheme stating that the company may apply to the stock exchanges once the Scheme is in compliance with SEBI circulars/ SEBI regulations. This pertained to the compliance by the company and Hathway Cable and Datacom Ltd of the minimum public shareholding requirement,” it said.
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.
