Cable TV
Siti Cable denies acquisition of Den Network
MUMBAI: The Siti Cable Network management has vehemently denied – through a press release – the correctness of the news item that has appeared in The Economic Times today indicating that it was likely to acquire national MSO DEN Networks.
Said Siti Cable executive director and CEO V D Wadhwa in the release: “There are no such developments between Siti Cable and Den Networks and we would not like to comment on the speculative news being carried out in the media in this regard”.
The National and the Bombay Stock exchanges had also sought clarifications from Den Networks in the matter. The latter has through a similar notice signed by company secretary Jatin Mahajan to the exchange stated that as a policy it does not comment on any market speculation.
Siti Cable and Den Networks were responding to the query raised by the bourses about an article that appeared in the business daily that alleged that Siti Cable chairman Subhash Chandra is looking to expand his cable business by acquiring the Sameer Manchanda-promoted Den Networks for Rs 2,000 crore.
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.
