Cable TV
Star Group and PCCW to jointly explore IPTV pay-TV business
Bomanbridge Media, Vietnam’s VTV, Sonia Fleck, SkyVision, Secuoya, Earth Touch, PeacepointMUMBAI: Star Group and Richard Li’s Pacific Century CyberWorks (PCCW) will be working together to explore the IPTV (Internet Protocol Television) pay-TV opportunities in various markets.
PCCW is the parent company of Hong Kong Telecom (HKT) and it’s broadband network serves all major business areas and 95 percent of Hong Kong households – one of the highest such percentages in the world.
Leveraging PCCW’s expertise in building and operating an IPTV business and Star’s strength and experience in content creation and distribution and the pay-TV business, the two companies will look into opportunities to work with platform operators and media companies in Asia for the rollout of IPTV services.
PCCW’s now TV is the world leader in IPTV with more than 550,000 users, subscribing to the service since its launch in August 2003 and representing over 25 per cent of homes so far in Hong Kong. now TV carries over 110 TV and audio channels including 17 channels provided by Star and its joint ventures.
PCCW executive director Alex Arena said, “PCCW has a wealth of experience in quickly implementing and operating a successful IPTV pay-TV business. Telecom and broadband companies from around the world visit us regularly, to explore how PCCW can share its experience with them. We are delighted to work together with Star to develop these opportunities.”
Star CEO Michelle Guthrie said, “We are excited to expand our working relationship with now TV, a tremendous partner of ours in Hong Kong, to explore opportunities across Asia. It is clear that IPTV will be an exciting distribution platform in the future. Today’s announcement underscores our efforts to help unlock its full potential, enabling Star to deliver content to more people across the region.”
The Star/PCCW cooperation will involve full pay-TV operations and will be in addition to worldwide technical and IT solutions provided by Cascade Limited, a wholly owned subsidiary of PCCW. Cascade has built and installed end-to-end technical IPTV solutions in countries as far afield as Thailand and Morocco. Ongoing discussions are in progress with a number of other overseas operators.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
