MxMIndia

Tag: SITI Cable Network Ltd

  • Jha will be based at the Corporate Office of SITI Cable, Noida

    Bibhash Jha appointed Head – Content & Carriage at SITI Cable

    By A Correspondent

     

    Bibhash Jha has been appointed as Head-Content & Carriage of SITI Cable Network Ltd., an Essel Group Company. SITI Cable with its pan India presence in 100+ cities and 4.6 million digital subscriber base is the fastest growing Multi System Operator (MSO) in the country. Jha has been entrusted with the job of providing a fillip to the growth momentum of SITI Cable. SITI Cable is taking giant strides in this exciting phase of digitization and Jha will play an instrumental role in this leap from Analog to absolute Digitization.

     

    Jha has over 20 years of distribution work experience with 15 years at Star Sports India Ltd., where he played an instrumental role in the transition of ESPN channel to Star Sports India. In 2007, he played a key role in the launch of new sports channel Star Cricket. Under his ambit, a separate vertical of MSO business was created which was profitable in its very first year of operation. He was also responsible for the distribution of sports channel for STAR on pan India basis.

     

    Commenting on the appointment, VD Wadhwa, Executive Director & CEO said, “We are delighted to have Bibhash Jha on board. With his rich experience of broadcasting & distribution business, he brings to us a competitive edge in strategizing business and accomplishing organizational goals”.

     

    Jha will be based at the Corporate Office of SITI Cable, Noida.

     

  • SITI Cable Network Ltd has achieved the landmark of 4 million digital customers as on 31stMarch 2014

    SITI eclipses 4 million subscriber mark

    By a correspondent

     

    SITI Cable Network Ltd has achieved the landmark of 4 million digital customers as on 31stMarch 2014. Encouraged by the significant improvement in the performance in FY13-14 and to support the aggressive growth plan to grow subscriber base to 10 million in FY 14-15, the promoters have invested additional Rs.2430 million in the business.

     

    As per the approval received from Foreign Investment Promotion Board (FIPB) in March 2013 to raise Rs. 3240 million from promoter entities, the company has already received first tranche Rs. 810 million in March 2013 and this is balance tranche fund of Rs. 2430 million. With this total promoter shareholding rises to 72.82 percent.

     

    The funds will be utilized primarily for Business expansion and to partially reduce debt.

     

    Subhash Chandra, Chairman, stated, ” The Indian television distribution industry is on the cusp of high growth value phase as it marches towards the digitization of balance phases of cable television in the country. With the change in leadership last year, SITI Cable has driven higher revenue and profitability through relentless focus on operational excellence despite uncertain environment. Our sustained investment in this sector will further accelerate the growth momentum and will serve the Digital Cable TV viewing needs of many more million Indians on SITI Cable Network”.

     

    Commenting on this development, V D Wadhwa, CEO of SITI Cable said “For the wider digitization roll out, the company needs to invest in upgrading its digital infrastructure further and enter into newer strategic markets. We plan to seed over 6 million set-top-boxes in phase-3&4 markets through organic and in organic growth. We believe that we are well poised to benefit from the ongoing digitization implementation and ready to penetrate the market at a faster rate.”