Cable TV
Siti Cable acquires stakes in 7 MSOs; to raise Rs 680 crore
MUMBAI: Siti Cable Network has acquired varying amounts of equity stakes in as many as seven multi system operators (MSOs).
Amongst these is also the Mumbai based cable and television service provider Scod 18 Networking, in which the company picked up a 76 per cent stake.
Additionally, Siti Cable has also acquired equity stake in six other smaller companies. While the company acquired 100 per cent stake in Variety Entertainment, it picked up 51 per cent stake each in Sai Star Digital Media, Bargachh Digital Communication Network and Krishna Teja Digital Entertainment. It also picked up 49 per cent stake each in Siti Faction Digital and Siti Jony Digital Cable Network.
Siti Cable Network is also planning to raise up to Rs 680 crore through issuance of warrants and optionally fully convertible debentures (OFCDs) to promoter companies.
In a BSE filing the company said that the Board of Directors approved, subject to shareholders’ approval, issuance of 14,28,57,143 number of warrants convertible at option of the holder in one or more tranches to Direct Media & Cable and/or Arrow Media & Broadband, entities forming part of promoter/promoter group of the company at Rs 35 per warrant, the total value of warrants shall not be more than Rs 500 crore.
The company will also issue 51,428,571 OFCDs to Digital Satellite Media & Broadband, entity forming part of promoter/promoter group of the company at Rs 35 per OFCD, the total value of OFCDs shall not be more than Rs 180 crore.
A source at Siti Cable informed Indiantelevision.com that the funds for the acquisitions would be sourced internally, and that the Rs 680 crore that were being raised would be to boost internal resources.
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.
