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Siti Cable’s acquisitions in FY15
MUMBAI: Multi-system operator (MSO) Siti Cable Network acquired 51 per cent stake in three entities, namely Siti Global, Siti Karnal Digital Media and Siri Digital Network, during the financial year 2014–15. The Essel Group company also took 100 per cent stake in Siti Broadband Services.
Following these acquisitions, the total number of subsidiary companies of the Essel Group-owned MSO has increased to 18 as compared to 14 during the previous financial year.
During the period under review, the MSO had also subscribed on rights basis for 45,000,000 equity shares of Kolkata-based subsidiary Indian Cable Net Company Ltd, in which it held 60.02 per cent stake.
In FY15, Siti Cable’s digital subscriber base increased significantly to 5.38 million compared to 3.8 million in 2013–14, by virtue of increased digital cable presence to 130 cities. Its total cable subscriber base also increased to 10.5 million compared to 10 million in 2013–14.
In order to build an intensive pan-India presence, the MSO entered new territories such as Nagpur, Pune, Mysore and Dehradun. As part of its Phase III rollout plan, it entered several new towns in the states of Kerala, Madhya Pradesh, Maharashtra, Andhra Pradesh and Haryana.
Having increased it footprint to 130 cities in 2014–15, the MSO plans to expand to over 200 cities by December 2015, which is the regulatory timeline for shutdown of analogue cable in Phase 3 areas. In 2012–13, it was present in only 60 cities.
In FY15, Siti Cable spruced up its infrastructure by installing six new state-of-the-art headends for future-ready technology offering 500 SD and 30+ HD channels. It also introduced advertising through the set-top box (STB).
Besides, it launched four in-house channels, namely Siti Shopping, Siti Romance, Siti Events and Siti Cinema.