Atlas Consolidated LLC, a joint venture between US-based Greenwich with Equity Partners and Jagran Infra Projects, has decided to foray into Indian cable television market in tie-up with Bhima Riddhi Digital Services, which runs cable TV networks in parts of Karnataka, Maharashtra, Goa and Gujarat.
The two companies will sign a memorandum of understanding (MoU) today on 17 july 2014 to create a nationwide multisystem operator (MSO). The estimated valuation of the deal is $200 million, or about Rs 1,200 crore.
The third phase of digitisation through conditional access systems (CAS) that requires TV set-top boxes, will need massive scale of roll out, said Nagesh Chhabria, promoter of Bhima Riddhi Group and erstwhile chief executive officer at IndusInd Media & Communications.
The new entity, which is yet to be christened, will be operational within the next 8 to 10 weeks and will be rolled out in a phased manner starting from western and central India. To be headquartered in Mumbai, it plans to have a pan-India network with target base of 6 million cable TV subscribers in the next 18 months.
Atlas will hold a significant stake in the entity. Jagran Infra specialises in the production and entertainment space.
Tamil Nadu's Arasu Cable insists on tariff and receipts in non-metros
The State government-run Arasu Cable will soon run awareness campaigns targeting its subscribers and exhorting them to demand printed receipts from their local cable operators.This is to make sure there is no charging above the fixed monthly subscription fee of Rs. 70.
Tamil Nadu Arasu Cable Television Corporation Limited will begin with a poster campaign in Kancheepuram.
Enquiries reveal these posters will be displayed at government buildings, ration shops, government hospitals, primary health centres, civic body offices, regional transport offices and government schools. A senior official with the multi-system operator Arasu Cable said they have already handed over printed receipt books to local cable operators.
According to officials, in order to prevent local operators from creating aversion against Arasu Cable among the public, it had been decided to publicise the real fact by pasting posters at places frequented by the public.
Complaints can be lodged over phone (044-28221233) during office hours, if more than Rs. 70 is collected or if the operator refuses to issue the official receipt.
Source: http://cablequest.org/news/cable-news/item/5515-cq-atlas-ties-up-with-bhima-riddhi-group.html
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