ITV

Tag: Siti Cable

  • Videocon d2h brings on Zee’s global news channel WION

    Videocon d2h brings on Zee’s global news channel WION

    MUMBAI: Zee Media has launched its new English news channel Wion on 15 August with the aim of going beyond the banal news. Headed by Rohit Gandhi, the channel is accessible via satellite in 37 countries.

    In India, it is available on Dish TV (channel no 605), Reliance Digital TV (channel no 459), Tata Sky (channel no 628) and Airtel Digital TV (channel no 999). The channel position on Airtel Digital TV is temporary.

    Videocon d2h – which has a library of 570 plus channels and services – has now added WION to that list on channel no 367.

    “We have been relentless in our pursuit to gratify our customers with an exceptional viewing experience,” said Videocon d2h executive chairman Saurabh Dhoot. “With this addition, subscribers of Videocon d2h will have one more opportunity to stay informed with the latest headlines and breaking news from the network”

    Videocon d2h CEO Anil Khera added: “Videocon d2h has been extremely aggressive and innovative when it comes to technology upgrades, new content offerings and launching new services all in an effort to keep ahead of current industry trends. Addition of Z Wion is fulfillment of our promise to provide the best channels and content across all genres.”

    It offers a wide range of active services like smart services including Smart English, Smart Games. The other active services include d2h Hollywood HD, d2h music, d2h spice, d2h cinema in both Standard Definition and HD, etc.

    The channel is also available on Siti Cable connections in Mumbai, Delhi, Bangalore, Indore and Kolkata whereas DEN Networks is carrying the channel in Mumbai and Kolkata.

  • Wadhwa says Siti Cable is continually looking for acquisitions

    Wadhwa says Siti Cable is continually looking for acquisitions

    MUMBAI: Siti Cable, part of the Essel group is not going to immediately get the benefits of the 100 per cent FDI relaxation in the TV distribution sector. This was revealed by Siti Cable executive director & CEO VD Wadhwa to TV channel Bloomberg TV a couple of days ago.

    Wadhwa said that the promoters own 71 per cent of Siti Cable Networks; with the non-promoter holding standing at 29 per cent. “At least for the next two to four quarters I don’t see any major benefits coming out to the government in terms of foreign currency inflows into the business,” he told Bloomberg TV.

    He added that the company would continue to grow both organically and inorganically in FY 2017. “The industry is going through a tight cash situation. The industry has largely been fragmented,” he stated. “Now consolidation is happening at the cable operator level, it is happening at the regional level. It is only a matter of time before it starts happening at the national level as well.”

    He revealed that his company was participating in the consolidation as post digitization it was becoming difficult for the cable operator to survive alone. “We are keeping our eye open because we have identified some of the geographies wherever we would like to expand by acquisition and wherever we see a strategic fit,” he explained.

    He pointed out to the network’s acquisitions recently in Maharashtra and Gujarat where Siti Cable was relatively weak.

    “In both these places we have expanded through partnerships. In Mumbai, we acquired 600,000 subscribers by acquiring 76 per cent in a local network Scod18. In Gujarat, we have acquired 700,000-800,000 subscribers by doing a 51:49 per cent joint venture in Gujarat,” he revealed.

    He said Siti Cable had agreed to take a 50 per cent stake in Assam-based Axom Communications as the existing promoter was comfortable in partaking of only that much equity. “The new Companies Act allows us to control an organization either through an equity stake or through the composition of the board. We chose to get a majority on the board and will be consolidating the results with Siti Cable’s financials on account of that,” he disclosed.

    Wadhwa explained that Siti Cable would be more open to taking anywhere between 51 per cent and 76 per cent stakes in cable TV ventures as it makes sense to have a partner who knows the local territory well to still be involved in the business even after acquisition or a partnership.

  • Wadhwa says Siti Cable is continually looking for acquisitions

    Wadhwa says Siti Cable is continually looking for acquisitions

    MUMBAI: Siti Cable, part of the Essel group is not going to immediately get the benefits of the 100 per cent FDI relaxation in the TV distribution sector. This was revealed by Siti Cable executive director & CEO VD Wadhwa to TV channel Bloomberg TV a couple of days ago.

    Wadhwa said that the promoters own 71 per cent of Siti Cable Networks; with the non-promoter holding standing at 29 per cent. “At least for the next two to four quarters I don’t see any major benefits coming out to the government in terms of foreign currency inflows into the business,” he told Bloomberg TV.

    He added that the company would continue to grow both organically and inorganically in FY 2017. “The industry is going through a tight cash situation. The industry has largely been fragmented,” he stated. “Now consolidation is happening at the cable operator level, it is happening at the regional level. It is only a matter of time before it starts happening at the national level as well.”

    He revealed that his company was participating in the consolidation as post digitization it was becoming difficult for the cable operator to survive alone. “We are keeping our eye open because we have identified some of the geographies wherever we would like to expand by acquisition and wherever we see a strategic fit,” he explained.

    He pointed out to the network’s acquisitions recently in Maharashtra and Gujarat where Siti Cable was relatively weak.

    “In both these places we have expanded through partnerships. In Mumbai, we acquired 600,000 subscribers by acquiring 76 per cent in a local network Scod18. In Gujarat, we have acquired 700,000-800,000 subscribers by doing a 51:49 per cent joint venture in Gujarat,” he revealed.

    He said Siti Cable had agreed to take a 50 per cent stake in Assam-based Axom Communications as the existing promoter was comfortable in partaking of only that much equity. “The new Companies Act allows us to control an organization either through an equity stake or through the composition of the board. We chose to get a majority on the board and will be consolidating the results with Siti Cable’s financials on account of that,” he disclosed.

    Wadhwa explained that Siti Cable would be more open to taking anywhere between 51 per cent and 76 per cent stakes in cable TV ventures as it makes sense to have a partner who knows the local territory well to still be involved in the business even after acquisition or a partnership.

  • DAS: No. of MSOs rises to 877, one permanent licensee made provisional

    DAS: No. of MSOs rises to 877, one permanent licensee made provisional

    NEW DELHI: Even as the total number of multi-system operators has risen to 877 including 647 getting provisional licences as the country approaches the deadline for the final phase of the digital addressable system, the number of permanent licensees (up to ten years) has fallen by one to 230.

    Star Broadband Services (India) Pvt Ltd, which earlier had a permanent licence for distributing signals in Delhi, has now been given a provisional licence on its application for pan India distribution. Thus, the number of MSOs has risen by 37 since the last list of 29 April had put the number at 840.

    The Information and Broadcasting Ministry had cancelled the licences of 26 MSOs and closed their cases by 12 January. Ministry sources told indiantelevision.com that the latest reduction in the permanent list could not be deemed as a cancellation since the MSO had come on the provisional list.

    According to the latest list, the area of operation of two MSOs has been revised after 29 April. Unlike the last list, two MSOs – Whitefield Communication and Star Broadband Services – have been given pan-India licences. The new registrations include the states of, or specific districts in, Uttar Pradesh, Haryana, Tamil Nadu, Odisha, Rajasthan, Madhya Pradesh, Maharashtra, Chhatisgarh, Punjab, Telangana, and Andhra Pradesh.

    In an indication of the emphasis on reaching signals in border areas, three MSOs in Jammu and Kashmir and one in Tripura have also received provisional licences since the last list.

    With the Home ministry directive about doing away with security clearances for MSOs not being communicated in writing to the MIB, the pace remains slow.

    The permanent licence issued to Kal Cable of Chennai had been cancelled on 20 August 2014, but this cancellation was set aside by Madras High Court on 5 September the same year. However, Kal Cable’s name continues to be in the cancelled list – presumably because the cases are still pending.

    Sources said that denial of security clearance was not the only reason for provisional licences and said many MSOs holding provisional licences had not completed certain formalities relating to shareholders and so on.

    Hathway CCN Entertainment (India) Pvt. Ltd which is a joint venture with Hathway and Siti Cable is among the new recipients, for Chhatisgarh. Hathway CCN recently set up a digital headend to offer a wide array of digital services and channels. The MSO is offering 48 HD channels for its digital cable TV subscribers in the state. Siti’s newly acquired company Bargachh Digital Communication, in which it has 51 percent stake, has also received registration for six districts of Andhra Pradesh.

  • DAS: No. of MSOs rises to 877, one permanent licensee made provisional

    DAS: No. of MSOs rises to 877, one permanent licensee made provisional

    NEW DELHI: Even as the total number of multi-system operators has risen to 877 including 647 getting provisional licences as the country approaches the deadline for the final phase of the digital addressable system, the number of permanent licensees (up to ten years) has fallen by one to 230.

    Star Broadband Services (India) Pvt Ltd, which earlier had a permanent licence for distributing signals in Delhi, has now been given a provisional licence on its application for pan India distribution. Thus, the number of MSOs has risen by 37 since the last list of 29 April had put the number at 840.

    The Information and Broadcasting Ministry had cancelled the licences of 26 MSOs and closed their cases by 12 January. Ministry sources told indiantelevision.com that the latest reduction in the permanent list could not be deemed as a cancellation since the MSO had come on the provisional list.

    According to the latest list, the area of operation of two MSOs has been revised after 29 April. Unlike the last list, two MSOs – Whitefield Communication and Star Broadband Services – have been given pan-India licences. The new registrations include the states of, or specific districts in, Uttar Pradesh, Haryana, Tamil Nadu, Odisha, Rajasthan, Madhya Pradesh, Maharashtra, Chhatisgarh, Punjab, Telangana, and Andhra Pradesh.

    In an indication of the emphasis on reaching signals in border areas, three MSOs in Jammu and Kashmir and one in Tripura have also received provisional licences since the last list.

    With the Home ministry directive about doing away with security clearances for MSOs not being communicated in writing to the MIB, the pace remains slow.

    The permanent licence issued to Kal Cable of Chennai had been cancelled on 20 August 2014, but this cancellation was set aside by Madras High Court on 5 September the same year. However, Kal Cable’s name continues to be in the cancelled list – presumably because the cases are still pending.

    Sources said that denial of security clearance was not the only reason for provisional licences and said many MSOs holding provisional licences had not completed certain formalities relating to shareholders and so on.

    Hathway CCN Entertainment (India) Pvt. Ltd which is a joint venture with Hathway and Siti Cable is among the new recipients, for Chhatisgarh. Hathway CCN recently set up a digital headend to offer a wide array of digital services and channels. The MSO is offering 48 HD channels for its digital cable TV subscribers in the state. Siti’s newly acquired company Bargachh Digital Communication, in which it has 51 percent stake, has also received registration for six districts of Andhra Pradesh.

  • Siti Cable denies acquisition of Den Network

    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.

     

  • Siti Cable denies acquisition of Den Network

    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.

     

  • ICRA upgrades Siti Cable’s long term rating to A-

    ICRA upgrades Siti Cable’s long term rating to A-

    MUMBAI:  Long term rating on term loans for Siti Cable Network Limited, an Essel Group Company, has been upgraded by credit rating agency ICRA. ICRA has upgraded the long-term rating of Siti Cable to [ICRA] A- from [ICRA] BBB+. Further ICRA has a [ICRA] AA (SO) outstanding rating on the term loan facility of Siti Cable. The outlook on the ratings is ‘stable’.

    Siti Cable ED and CEO V D Wadhwa said,“We welcome this upgrade in SITI Cable’s credit rating and thank ICRA for re-affirming SITI Cable’s growth story. Improvement in profitability, growth in Digital Subscriber base, continuous focus on operational excellence and promoter’s confidence in sustainable growth of the company, have all been the drivers for SITI Cable’s growth. SITI Cable has been at the forefront in offering great value to customers through video and broadband services.” 

    The rating upgrade takes into account the recent equity infusion from the promoter group (Rs. 530 crores in February 2016) and the improving operating performance of Siti Cable, which is expected to result in an improvement in the credit profile of the company. ICRA also noted that being an Essel Group entity, Siti Cable has been benefitting from regular financial support from the promoter group. The promoters had infused fresh funding in Q3-2016 (quarter ended 31 December 2015).

    While the transitioning of the cable TV system in India from analog to digital is underway, ICRA reinforced the belief that Siti Cable’s execution risk is mitigated by the management team’s extensive experience in various areas of the television and media industry. The rating also factors in Siti Cable’s `status as one of the largest multi system operators (MSOs) in India in terms of its cable universe of 1.22 crore subscribers as of December 201) and revenues Rs  905.9 crore in FY-2015 (year ended 31 March 2015) as well as the high growth potential of digital cable services in India.

    ICRA has also noted Siti Cable’s significant investments in consumer premise equipment towards conversion of analog subscribers to digital.

    Buoyed by DAS Phase III, Siti Cable achieved a financial turn-around for the first time by reporting Profit Before Tax of Rs 56 crore in Q3-2016.

  • ICRA upgrades Siti Cable’s long term rating to A-

    ICRA upgrades Siti Cable’s long term rating to A-

    MUMBAI:  Long term rating on term loans for Siti Cable Network Limited, an Essel Group Company, has been upgraded by credit rating agency ICRA. ICRA has upgraded the long-term rating of Siti Cable to [ICRA] A- from [ICRA] BBB+. Further ICRA has a [ICRA] AA (SO) outstanding rating on the term loan facility of Siti Cable. The outlook on the ratings is ‘stable’.

    Siti Cable ED and CEO V D Wadhwa said,“We welcome this upgrade in SITI Cable’s credit rating and thank ICRA for re-affirming SITI Cable’s growth story. Improvement in profitability, growth in Digital Subscriber base, continuous focus on operational excellence and promoter’s confidence in sustainable growth of the company, have all been the drivers for SITI Cable’s growth. SITI Cable has been at the forefront in offering great value to customers through video and broadband services.” 

    The rating upgrade takes into account the recent equity infusion from the promoter group (Rs. 530 crores in February 2016) and the improving operating performance of Siti Cable, which is expected to result in an improvement in the credit profile of the company. ICRA also noted that being an Essel Group entity, Siti Cable has been benefitting from regular financial support from the promoter group. The promoters had infused fresh funding in Q3-2016 (quarter ended 31 December 2015).

    While the transitioning of the cable TV system in India from analog to digital is underway, ICRA reinforced the belief that Siti Cable’s execution risk is mitigated by the management team’s extensive experience in various areas of the television and media industry. The rating also factors in Siti Cable’s `status as one of the largest multi system operators (MSOs) in India in terms of its cable universe of 1.22 crore subscribers as of December 201) and revenues Rs  905.9 crore in FY-2015 (year ended 31 March 2015) as well as the high growth potential of digital cable services in India.

    ICRA has also noted Siti Cable’s significant investments in consumer premise equipment towards conversion of analog subscribers to digital.

    Buoyed by DAS Phase III, Siti Cable achieved a financial turn-around for the first time by reporting Profit Before Tax of Rs 56 crore in Q3-2016.

  • ACT leads in wired broadband subscriber additions in 2016

    ACT leads in wired broadband subscriber additions in 2016

    BENGALURU: Atria Convergence Technologies Private Limited (ACT, ACT Broadband) lead in net wired broadband subscriber additions in calendar year 2016 with 50,000 subscribers added during the first two months of calendar year 2016 (CY-2016). As per data released by the Telecom Regulatory Authority of India (TRAI), ACT’s broadband subscriber base as on 29 February 2016 (Feb-16) was 9.1 lakh as compared to the 8.6 lakh subscribers as on 31 December 2015 (Dec-15).

    Until 30 October 2015 (Oct-15), ACT Broadband was leading in wireline broadband internet subscriber additions in India during calendar year 2015. Both ACT and Bharti Airtel had added 230,000 subscribers in CY-2015 until Nov-15. In December 2015 numbers released by TRAI indicated that as on 31 December 2015 (Dec-15), Bharti Airtel had added 2.6 lakh subscribers (subject to a granularity of 10,000) as compared to the 2.5 lakh subscribers added by ACT in the period between 31 December 2014 (hence 1 January 2015, Dec-14) and Dec-15. In terms of wireline internet subscription numbers, Airtel had 16.7 lakh subscribers while ACT had 8.6 lakh subscribers at the end of CY-2015.

    As per TRAI data, the top five players in India in the wireline broadband internet space in pecking order are the public sector Bharat Sanchar Nigam Limited (BSNL), Bharti Airtel Limited (Airtel), public sector Mahanagar Telephone Nigam Limited (MTNL), Atria Convergence Technologies Private Limited (ACT, ACT Broadband) and You Broadband (You BB). Among these 5, only BSNL and Airtel could be termed national players at present. BSNL, Airtel and MTNL also provide wireline and mobile services while Airtel also has a direct to home (DTH) segment. ACT started off as an MSO with operations concentrated in a few major cities and towns located mainly in South India. It started internet services (ACT Broadband) a little later and has grown its broadband internet subscriber base over time, to the extent that it is quite likely the biggest private wireline broadband player in South India. You BB offers broadband operations in a few cities in Maharashtra, Gujarat the NCR region Andhra Pradesh and Karnataka.

    While the public sector players BSNL and MTNL have been losing subscribers and/or market share, the three private players have been growing on both these parameters as Fig 1 below indicates. In CY-2016, until Feb-16, both BSNL and MTNL have lost 10,000 wired broadband subscribers each, while You BB has added 10,000 subscribers. BSNL’s wired broadband subscriber base as on 29 February 2016 was 99.1 lakh, while MTNL had 11.1 lakh subscribers. You BB had 5.2 lakh subscribers for Feb-15.

    Note: (1) 100,00,000 = 100 Lakh = 10 million = 1 crore

    (2) TRAI reports indicate data in millions of numbers up to 2 decimal places. Hence it is assumed in this report that a figure of 0.47 million (4.7 lakh) subscribers for You BB for July-2015 would be granular to the nearest 10,000. While percentages have been mentioned up to two decimal places, the accuracy may vary, depending upon the exact number.

    (3) Industry sources say that TRAI numbers in the case of ACT for May-2015 are incorrect at 0.66 million and the correct number would be 0.693 million. This paper considers the number as 6.93 lakh or 0.693 million.

    (4) MSOs’ have a number of subsidiaries and alliances, hence broadband numbers are split as applicable. The consolidated subscription numbers of these entities could be larger. Hathway is a case in point.

    At the same time, the subscriber numbers share of the top five wired broadband players in the country has reduced from 88.45 percent from Dec-14 to 84.54 percent as on Feb-16. During the same period the all India wireline internet subscriber base has grown 9.33 per cent from 153.2 lakh to 167.5 lakh. The combined numbers of the top five players have increased by less than half of that in percentage terms – by 4.5 per cent from 136.3 lakh to 141.6 lakh. The top five players have added 5.3 lakh subscribers during these 14 months, with ACT and Bharti Airtel contributing to the major bulk of the growth. Please refer to Fig 2 below.

    MSOs’ in India have started providing internet services on the back of their cable networks using Docsis technology. In general, they have started reporting double digit YoY increase in internet subscribers and revenue.  Three of the major MSOs and a regional MSO – Hathway, Siti Cable, Den Networks, Ortel Communications whose results are available in the public domain for the quarter ended 31 December 2016 (Q3-2016 current quarter) have been showing steady growth in their broadband segment over the past few quarters.