ITV

Tag: Rohit Mehra

  • Siti-sational setback as losses deepen in Q3 and CIRP clouds outlook

    Siti-sational setback as losses deepen in Q3 and CIRP clouds outlook

    MUMBAI: Siti Networks is weathering one of its stormiest quarters yet, with mounting losses, a ballooning debt burden, and a cloud of insolvency proceedings hanging over its cable and broadband empire. The third quarter results for FY2024–25 reveal a dismal performance: the company posted a standalone net loss of Rs 529.02 million and a consolidated loss of Rs 667.61 million for the quarter ending 31 December 2024.

    Revenue from operations took a hit, falling to Rs 814.55 million in Q3 from Rs 1,032.30 million in the same period last year. Total expenses continued to outpace revenue, reaching Rs 1,358.73 million driven largely by pay channel costs (Rs 683.14 million), finance charges (Rs 222.26 million), and depreciation (Rs 103.92 million).

    Year-to-date figures paint an even bleaker picture, with the company racking up a net loss of Rs 1,421.70 million (standalone) and Rs 1,684.50 million (consolidated) for the nine months ended December 2024. Siti Networks’ accumulated losses now stand at a staggering Rs 29,346.96 million, resulting in a negative net worth of Rs 12,411.66 million and a working capital deficit of Rs 16,474.65 million.

    To add to the turbulence, the company remains under the Corporate Insolvency Resolution Process (CIRP), with legal wrangling between lenders, operational creditors and the resolution professional over claims and liabilities. Claims totalling over Rs 31,000 million have been filed, though a significant chunk remains disputed or under review.

    While the Resolution Professional, Rohit Mehra, continues to steer the ship, ongoing disputes including appeals over moratorium breaches and creditor repayments threaten to delay a stable resolution. Meanwhile, statutory auditors have issued a disclaimer of conclusion, citing insufficient audit evidence and unresolved material uncertainties, including doubts about the company’s very ability to continue as a going concern.

    Despite resumed operations with major broadcasters like Zee Entertainment and the presence of a Resolution Professional at the helm, the road ahead looks anything but smooth. Siti’s future now hinges on a successful turnaround plan, if one can be stitched together in time.

    As the industry watches closely, the question remains: Can Siti Networks switch from static to signal again? Or is this the final fade to black?

  • Conax all-inclusive DRM portfolio for Latin America now includes in-the-cloud solutions for pay-TV operators and content distributors

    Conax all-inclusive DRM portfolio for Latin America now includes in-the-cloud solutions for pay-TV operators and content distributors

    MUMBAI: S?o Paulo, Brazil, August 5th, 2013: ABTA 2013 Expo & Conference — Conax, a leading global provider of solutions for securing multi-device and digital video content distribution, today announced an all-inclusive strategy for the Latin America pay-TV market. In addition to the recent announcements of secure DRM deployments at Cablemás, Nuevo Siglo and Montecable, content protection specialist Conax is partnering with systems integrator Bold MSS for a hosted IPTV solution, based on Conax Contego Unite™ and including middleware from Cubiware. Now operators of all sizes can readily embrace new pay-TV solutions, launching advanced platforms with low capital expenditure while positioning for market-differentiating offers such as OTT VOD and multiscreen services.

    Bold MSS will provide a hosted IPTV solution designed for smaller Latin America operators keen to embrace VOD and other interactive services enabling enhanced consumer offerings. In addition to the expertise provided by the highly skilled technicians at Bold MSS, the new service will include world-class security from Conax and market-leading middleware from Cubiware.

    “We are very excited by the tremendous demand for advanced services in Latin America and the opportunity to help operators grow. When selecting a security solution, operators should choose a partner with a solid security history and a long record of profitability to assure themselves a strong future. To help operators yield profits on their OTT investments, Conax is cultivating strategic partnerships to enable highly diverse pay-TV market segments to earn on advanced On-demand offerings – through flexible, fast-to-market and secure DRM solutions,” says Rohit Mehra, VP Americas, Conax.

    Together with Bold MSS and strategic partners, Conax is offering a highly unique portfolio of advanced content security solutions tailored for the varying needs of operators and providers of pay-content delivery in varying market segments.

    Secure solutions for all sizes of operations

    Latin American operators of all sizes can maintain and increase their market share and make money by enabling a unique consumer experience by adding new features and solutions, through deployment of market differentiating services such as VOD, Live TV, and multiscreen offerings for a growing ecosystem of broadband-savvy consumers. Conax is offering operators secure, Hybrid OTT solutions with fast time-to-market at reduced costs allowing operators to profit on multiscreen content. A sample of solutions offered by Conax:

    1) Conax Xtend Multiscreen™: Pre-integrated solution with fast time-to-market, based on Conax Contego Unite™ secure DRM, chosen by Cablem?s, Mexico

    2) Conax Contego Unite™ – highly flexible OTT solution based on 25 years of market-leading experience and security track record, selected by Nuevo Siglo and Montecable

    3) Hosted secure IPTV Solution, based on Conax Contego Unite™ and hosted by Bold MSS, for smaller operators in Latin America looking to enhance their broadband offerings by including pay-TV and On -demand services