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Tag: SN Sharma

  • Goldman Sachs to up stake in cable TV MSO DEN Networks; to invest Rs 142.43 crore

    Goldman Sachs to up stake in cable TV MSO DEN Networks; to invest Rs 142.43 crore

    MUMBAI: MSO DEN Networks has proved the naysayers – who have been carping that the Indian cable TV sector is as insipid as dry sawdust – wrong. The company’s existing shareholder Goldman Sachs is picking up 1.58 crore equity shares at a price of Rs 90 per share via a preferential allotment. This will take Goldman Sachs’ equity stake in DEN up from 17.79 per cent to 24.49 per cent and involve an injection of much needed capital to the tune of Rs 142.43 crore. The divestment is expected to trim promoter stake in the company to 37 percent.

    Board approval for this transaction came through yesterday and the company is seeking its shareholders’ nod through an extraordinary general meeting which is scheduled for 14 October 2016. DEN Networks informed the BSE about its intentions yesterday.

    Media observers say that the Indian cable TV ecosystem – including the government, the regulator TRAI, broadcasters, MSOs and cable TV operators – has stumbled in the digitization process which was mandated by the ministry of information and broadcasting four years back. They have also been saying that investor sentiment towards the sector is pretty weak. Shares of most leading Indian cable TV companies have been depressed, and have been parked at lows.

    However, DEN Networks has been taking steps to correct the perception. It has brought back its CEO SN Sharma who has since been working on raising revenues and profitability.

    The Goldman investment should come as a shot in the arm for DEN Networks as well as the Indian cable TV sector which is grappling with reinventing its business model.

    The company’s CFO Manish Dawar told CNBC TV18 that the company will be utilising the funds to invest in the broadband business as well as to reduce its debt. Earlier, this month, it had got board approval to demerge its broadband/internet service provider (ISP) business undertaking into its wholly owned subsidiary Skynet Cable Network . The company’s ISP business had a turnover of around Rs 40 crore in FY-2016.

    Dawar told the business news channel that DEN’s performance is on the upswing. “In Q1 we have already turned positive on EBITDA basis and if we were to look at I am talking about pre-activation which is what the investors wanted to kind of look at, so, therefore Q1 on cable business we are already EBITDA positive. Broadband is progressing very well, we have been able to reduce our losses tremendously over the last one year,” he said. “TV-Shop we are very close to break even. So, if you were to look at on a consolidated basis also, in the current quarter and I am talking about on a like-to- like basis, last quarter we were at minus (–) Rs 5 crore and the current quarter is positive Rs 5 crore on consolidated basis.”

    Investors greeted the Goldman Sachs announcement with delight. DEN Networks shares hit a high of Rs 85 during day trading yesterday only to close at Rs 80.85 – a rise of 3.5 per cent. The company’s share had hit a 52 week high of Rs 133 (21 September 2015) and it had dropped to a low of Rs 60.50 on 15 February 2016.

    The company also made an investor presentation yesterday in which it stated that its digital rollout is progressing well. Of the 13 million subscribers it has, almost 9.8 million of them have upgraded to digital in Q1 2017. Five million of these are in DAS Phase I & II areas with the remainder being in Phase III and phase IV.

  • Goldman Sachs to up stake in cable TV MSO DEN Networks; to invest Rs 142.43 crore

    Goldman Sachs to up stake in cable TV MSO DEN Networks; to invest Rs 142.43 crore

    MUMBAI: MSO DEN Networks has proved the naysayers – who have been carping that the Indian cable TV sector is as insipid as dry sawdust – wrong. The company’s existing shareholder Goldman Sachs is picking up 1.58 crore equity shares at a price of Rs 90 per share via a preferential allotment. This will take Goldman Sachs’ equity stake in DEN up from 17.79 per cent to 24.49 per cent and involve an injection of much needed capital to the tune of Rs 142.43 crore. The divestment is expected to trim promoter stake in the company to 37 percent.

    Board approval for this transaction came through yesterday and the company is seeking its shareholders’ nod through an extraordinary general meeting which is scheduled for 14 October 2016. DEN Networks informed the BSE about its intentions yesterday.

    Media observers say that the Indian cable TV ecosystem – including the government, the regulator TRAI, broadcasters, MSOs and cable TV operators – has stumbled in the digitization process which was mandated by the ministry of information and broadcasting four years back. They have also been saying that investor sentiment towards the sector is pretty weak. Shares of most leading Indian cable TV companies have been depressed, and have been parked at lows.

    However, DEN Networks has been taking steps to correct the perception. It has brought back its CEO SN Sharma who has since been working on raising revenues and profitability.

    The Goldman investment should come as a shot in the arm for DEN Networks as well as the Indian cable TV sector which is grappling with reinventing its business model.

    The company’s CFO Manish Dawar told CNBC TV18 that the company will be utilising the funds to invest in the broadband business as well as to reduce its debt. Earlier, this month, it had got board approval to demerge its broadband/internet service provider (ISP) business undertaking into its wholly owned subsidiary Skynet Cable Network . The company’s ISP business had a turnover of around Rs 40 crore in FY-2016.

    Dawar told the business news channel that DEN’s performance is on the upswing. “In Q1 we have already turned positive on EBITDA basis and if we were to look at I am talking about pre-activation which is what the investors wanted to kind of look at, so, therefore Q1 on cable business we are already EBITDA positive. Broadband is progressing very well, we have been able to reduce our losses tremendously over the last one year,” he said. “TV-Shop we are very close to break even. So, if you were to look at on a consolidated basis also, in the current quarter and I am talking about on a like-to- like basis, last quarter we were at minus (–) Rs 5 crore and the current quarter is positive Rs 5 crore on consolidated basis.”

    Investors greeted the Goldman Sachs announcement with delight. DEN Networks shares hit a high of Rs 85 during day trading yesterday only to close at Rs 80.85 – a rise of 3.5 per cent. The company’s share had hit a 52 week high of Rs 133 (21 September 2015) and it had dropped to a low of Rs 60.50 on 15 February 2016.

    The company also made an investor presentation yesterday in which it stated that its digital rollout is progressing well. Of the 13 million subscribers it has, almost 9.8 million of them have upgraded to digital in Q1 2017. Five million of these are in DAS Phase I & II areas with the remainder being in Phase III and phase IV.

  • Disney plays Fun Indiagames with Den

    Disney plays Fun Indiagames with Den

    MUMBAI: Indian Cable Television Distribution Company Den Network Limited and Disney India’s gaming arm Indiagames have launched ‘Fun Games,’ a subscription based gaming service. The service will offer a range of exciting games from the catalogue of Indiagames branded titles.

    Den Networks CEO SN Sharma said, “Disney India is to launch exciting games for kids under the name of Den Fun Games.’’

    Further, he emphasized, “At Den, we give the best value for money by using the most advanced technology.”

    “Today, MSOs reach out to major population in India and, by collaborating with Den, we are able to popularize our gaming content amongst them,” said Disney India – interactive, VP and head, Sameer Ganapathy.

    Den’s Fun Games offers three games which will be refreshed regularly for players to acquire new skills. The games include Egg Jump, Mailbox and Tower of Hanoi and are available for monthly Rs 45 and quarterly Rs 90 subscriptions.

  • Disney plays Fun Indiagames with Den

    Disney plays Fun Indiagames with Den

    MUMBAI: Indian Cable Television Distribution Company Den Network Limited and Disney India’s gaming arm Indiagames have launched ‘Fun Games,’ a subscription based gaming service. The service will offer a range of exciting games from the catalogue of Indiagames branded titles.

    Den Networks CEO SN Sharma said, “Disney India is to launch exciting games for kids under the name of Den Fun Games.’’

    Further, he emphasized, “At Den, we give the best value for money by using the most advanced technology.”

    “Today, MSOs reach out to major population in India and, by collaborating with Den, we are able to popularize our gaming content amongst them,” said Disney India – interactive, VP and head, Sameer Ganapathy.

    Den’s Fun Games offers three games which will be refreshed regularly for players to acquire new skills. The games include Egg Jump, Mailbox and Tower of Hanoi and are available for monthly Rs 45 and quarterly Rs 90 subscriptions.

  • S.N. Sharma quits Reliance

    S.N. Sharma quits Reliance

    MUMBAI: Cable distribution veteran SN Sharma has quit Reliance Jio, a subsidiary of Mukesh Ambani promoted Reliance Industries Ltd (RIL).

    Sources in RIL confirmed that Sharma has put in his papers last week.

    Sharma had joined RIL’s media-cum-telecom venture Reliance Jio in 2015  and was brought on board to lead the cable distribution business of the organisation.

    RIL, which through a subsidiary company has a licence to operate as an MSO, had also brought in former Hathway Datacom chief executive K. Jayaraman to head its distribution business and Sharma reported into him.

    As part of  Reliance Jio, Sharma and Jayaraman were entrusted to build a business plan for distribution of TV channels owned by Reliance that were managed under Network18 Media and Investments Ltd.

    With an experience of more than 20 years in electronic media and cable distribution, Sharma is credited with playing a crucial role in building thw Sameer Manchanda-promoted Den Networks and Rahejas-owned Hathway.

    RIL, which owns and controls the Network18 group that operates a clutch of TV channels, has widespread interest in media, telecom, petroleum and energy sectors.

    Through its subsidiary TV18 Broadcast Limited, the group operates news channels CNBC-TV18, CNBC Awaaz, CNBC Bajar, CNBC-TV18 Prime HD, CNN-News18, IBN7, ETV channels, IBN-Lokmat (a Marathi regional news channel in partnership with the Lokmat group), apart from the newly-launched  FYI TV18.

    TV18 also operates a joint venture with Viacom, called Viacom18, which houses a portfolio of popular entertainment channels like Colors, Colors HD, Colors Infinity, Rishtey, MTV India, MTV Indies, Comedy Central, Vh1, Nick, Sonic, Nick Jr, Teen Nick and Viacom18 Motion Pictures.

  • S.N. Sharma quits Reliance

    S.N. Sharma quits Reliance

    MUMBAI: Cable distribution veteran SN Sharma has quit Reliance Jio, a subsidiary of Mukesh Ambani promoted Reliance Industries Ltd (RIL).

    Sources in RIL confirmed that Sharma has put in his papers last week.

    Sharma had joined RIL’s media-cum-telecom venture Reliance Jio in 2015  and was brought on board to lead the cable distribution business of the organisation.

    RIL, which through a subsidiary company has a licence to operate as an MSO, had also brought in former Hathway Datacom chief executive K. Jayaraman to head its distribution business and Sharma reported into him.

    As part of  Reliance Jio, Sharma and Jayaraman were entrusted to build a business plan for distribution of TV channels owned by Reliance that were managed under Network18 Media and Investments Ltd.

    With an experience of more than 20 years in electronic media and cable distribution, Sharma is credited with playing a crucial role in building thw Sameer Manchanda-promoted Den Networks and Rahejas-owned Hathway.

    RIL, which owns and controls the Network18 group that operates a clutch of TV channels, has widespread interest in media, telecom, petroleum and energy sectors.

    Through its subsidiary TV18 Broadcast Limited, the group operates news channels CNBC-TV18, CNBC Awaaz, CNBC Bajar, CNBC-TV18 Prime HD, CNN-News18, IBN7, ETV channels, IBN-Lokmat (a Marathi regional news channel in partnership with the Lokmat group), apart from the newly-launched  FYI TV18.

    TV18 also operates a joint venture with Viacom, called Viacom18, which houses a portfolio of popular entertainment channels like Colors, Colors HD, Colors Infinity, Rishtey, MTV India, MTV Indies, Comedy Central, Vh1, Nick, Sonic, Nick Jr, Teen Nick and Viacom18 Motion Pictures.

  • MIB issues provisional MSO licence to Reliance Jio

    MIB issues provisional MSO licence to Reliance Jio

    MUMBAI: The wait is finally over for the Mukesh Ambani led Reliance Jio, as the company has finally got the provisional multi system operator (MSO) licence from the Information and Broadcasting Ministry (I&B). The licence was given on 17 June, 2015. 

     

    While I&B Ministry sources refused to comment on giving any such provisional licence, a source from the company confirmed the news saying, “We got the provisional MSO licence on 17 June.” 

     

    The telecom arm of Reliance Industries, Reliance Jio had applied for pan-India MSO licence in January 2015.

     

    This comes soon after the I&B Ministry decided to give provisional licence to MSOs who had applied for licences to operate in phase III. It can be recalled that in October 2014, the Ministry had decided to do away with the system of granting provisional licences and only giving permanent licences in order to ensure that only serious players entered the phase III and IV markets. 

     

    While, the Ministry had then said that it along with the Ministry of Home Affairs (MHA) will process the MSO security clearance within 90 days, the same has not been followed. This resulted in the I&B going back to granting provisional licences.

     

    Through a notice on 11 June, 2015, the Ministry accepted the delay in granting of security clearance by the MHA and so asked the close to 700 MSO licence applicants to file their application in an affidavit. Through the affidavit, the applicants had to commit that they have no criminal cases pending against them, and that they will shut down if they are refused security clearance. 

     

    “While we have got the provisional licence, now the MHA will come up with its guidelines, which we will need to follow to get the permanent licence. The reason that a provisional licence has been given is because the MHA was taking a lot of time to give security clearance,” said the source from the company.

     

    It can be noted that two of the pioneers of Indian cable TV sector: K Jayaraman and SN Sharma have already joined Reliance Jio and will be spearheading its business in the country.  

     

    Reliance Jio 4G rollout

     

    In its recent annual general meeting, Reliance Industries chairman and managing director Mukesh D Ambani informed that the ambitious 4G project will launch in December 2015 and that 2016-17 would be the first full year of commercial operations for Jio.

     

    After expending money to the tune of Rs 10,000 crore in acquiring spectrum rights across the country, the company is targeting to provide 4G services across India with an investment of more than Rs 70,000 crore.

  • SN Sharma joins Reliance Jio

    SN Sharma joins Reliance Jio

    MUMBAI: It was a shocker when the news of multi system operator (MSO) Den Networks CEO SN Sharma quitting the company broke. Now, after months of speculation about his next move, Sharma has made the decision.

     

    The man credited with creating one of the biggest MSO network, Den Networks, will now be looking into the day to day operations of Reliance Jio. Confirming the news to Indiantelevision.com, Sharma said, “Yes, I have joined Reliance Jio.”

     

    Reporting into Reliance Jio CEO K. Jayaraman, Sharma will be an integral part of the top management. 

     

    Sharma joined office starting 23 February but whether he will continue operating from Delhi, will be decided at a later stage.

     

    With Reliance Jio awaiting approvals for the pan India MSO licence, the company is rapidly strengthening its team. 

     

    During his stint at Den Networks, Sharma’s vision of growth through consolidation and digitisation had laid the foundation for the company. He also spearheaded Den Networks’ rapid growth with his visionary leadership and execution abilities. He was also the driving force behind taking the company into the digital era.

     

    He has nearly three decades of experience during which he has been associated with the electronic media industry for over 20 years.

  • DEN Networks gets new CEO in Pradeep Parameswaran

    DEN Networks gets new CEO in Pradeep Parameswaran

    MUMBAI: Multi system operator (MSO) DEN Networks has roped in Pradeep Parameswaran as its new chief executive officer (CEO). The position was left vacant after SN Sharma, one of the founding members of DEN Networks quit in September 2014.

     

    Parameswaran   joins   DEN  from McKinsey  and  Co  where  he  was  a partner  and  was  leading  the telecoms,  media  and  technology practice  in  India  and  of  the  operations  and  technology  function  within  telecoms,  media  and technology in Asia.

     

    He holds an engineering   degree from   Mumbai   University   with a Masters in Management Studies from Jamnalal Bajaj and an MBA from Vanderbilt University in the US. Besides McKinsey, he has also worked with Hindustan Unilever and AT Kearney.

  • DEN Networks CEO SN Sharma resigns

    DEN Networks CEO SN Sharma resigns

    MUMBAI: DEN Networks CEO SN Sharma has decided to quit from his current position. Sharma, one of the founding members of DEN, resigned today, which was accepted with immediate effect.

     

    The announcement was made on the BSE, which read: “Den Networks Ltd has informed BSE that Mr. S. N. Sharma, Chief Executive Officer (CEO) of the Company, has resigned due to personal reasons with immediate effect.”

     

    Confirms DEN Networks COO MG Azhar to indiantelevision.com, “He has resigned for personal reasons. We have accepted his resignation with immediate effect.”

     

    On the next CEO, Azhar says, “As they say, watch this space for more.”

     

    Sharma’s vision of growth through consolidation and digitisation had laid the foundation for the company. He has also spearheaded the company’s rapid growth with his visionary leadership and unparalleled execution abilities. He has also been the driving force behind taking the company into the digital era.

     

    He has nearly three decades of experience during which he has been associated with the electronic media industry for over 20 years.

     

    Prior to DEN, Sharma has held key positions in Hathway Cable & Datacom.