Cable TV
Hathway Cable & Datacom acquires 61.15 per cent shares of its Nanded subsidiary
MUMBAI: It’s acquisition and consolidation time in cable TV land. Multisystem operator Hathway Cable & Datacom informed the BSE on 27 November 2024 that it had acquired the balance 61.15 per cent equity stake ( 20,54,832) equity shares from the existing shareholders (including Hathway MCN Pvt Ltd – a Hathway offshoot) of Hathway Cable MCN Nanded Pvt Ltd (“Hathway Nanded”), a subsidiary of the company for an aggregate cash consideration of Rs. 11 (Rupees eleven only).
The acquisition of equity shares is for consolidation of business operations. Post-acquisition, Hathway Nanded has now become a wholly owned subsidiary of Hathway Cable & Datacom.
Hathway Nanded, incorporated in India on 11 March 2008, runs cable TV operations and has a presence in Nanded, Maharashtra. It had a turnover of Rs 5.58 crore in FY 2023-2024, Rs 7.08 crore in FY 2022-2023 and Rs 8.79 crore in FY 2021-2022.
It informed the stock exchange that one of the transferors (out of eleven), namely Hathway MCN Pvt Ltd, is a related party of Hathway Cable and the acquisition is on an arm’s length basis. None of the company’s promoter / promoter group / other group companies have any interest in the above transaction. No governmental or regulatory approvals were required for the acquisition.
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.
