Cable TV
Murdoch’s Foxtel mulls 15% stake in Oz’s Ten Network for $67 million
MUMBAI: Rupert Murdoch’s Australian local cable TV company Foxtel is mulling the option of buying a stake in Ten Network Holdings.
Australia’s free-to-air broadcaster Ten Network Holdings has acknowledged that it is in talks with Foxtel for a potential investment.
According to a report in the Australian Financial Review, Foxtel was close to agreeing a deal to take a 14.9 per cent stake in Ten, pumping in about $66.47 million at 18 cents a share.
In a statement to the Australian Securities Exchange (ASX), Ten Network said that an ongoing review about its ownership “involves discussions with Foxtel about the terms on which it may potentially invest in Ten.”
Foxtel is half-owned by the Australian arm of News Corp and half-owned by Australian telecom company Telstra Corp.
Ten Network added that it will “update the ASX again when required to do so under its continuous disclosure obligations.”
The company also urged “caution in dealing in its shares on the basis of media speculation about potential transactions involving the company.”
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.
