IMCL Makes Third Purchase In Kolkata

IndusInd Media & Communications Ltd (IMCL) has made its third acquisition in Kolkata as it plans to expand in that marketplace where it sees a lot of demand coming from small-sized cable companies who are unable to fund for digital set-top boxes (STBs).

Nagesh Chabria, CEO, IMCL told media person, “We have acquired 51 per cent stake in a small cable TV network in Kolkata. We are looking at seeding 100,000 STBs through this company. This is our third purchase in Kolkata.”

In 2012, IMCL had picked up 51 per cent stake in two cable networks - Hooghly-based Advance Multisystem Broadband Communications (AMBC) and Skyvision.

Advance Multisystem Broadband Communications Limited (AMBC) has become a subsidiary of IMCL with effect from 9 November 2012. IMCL had on 18 May acquired AMBC by subscribing to 51 per cent of the paid up equity capital of AMBC by provision of STBs and digital head-end valued at Rs 80.1 million.

Meanwhile, Hinduja Ventures Limited (HVL) has reported a fall in its third quarter profit before tax from its media and communications segment (IMCL) to Rs 50.81 million from Rs 199.9 million in the trailing quarter.

The revenue from this segment, which houses the HVL’s cable TV business InCablenet, is Rs 1.52 billion compared to Rs 1.36 billion in the second quarter of the fiscal.

Source: http://cablequest.org/news/digitization-news/item/1554-imcl-makes-third-purchase-in-kolkata.htmlSource: http://cablequest.org/news/digitization-news/item/1554-imcl-makes-third-purchase-in-kolkata.html