Cable TV and Broadband service provider Hathway Cable has appointed Jagdish Kumar as its Managing Director and Chief Executive Officer, reports Indiantelevision.com. The report states that Kumar will be replacing the former CEO and MD K Jayaraman, who will continue as the company’s vice chairman.
While the report doesn’t mention Kumar’s responsibilities at Hathway, a Business Standard report suggests that Kumar will be responsible for formulating Hathway’s digitization strategy for the second phase of cable TV digitization, expected to conclude by March 2013.
Prior to this appointment, Kumar served as the President – Media and Entertainment, Reliance Industries for seven months, where he was reportedly helping RIL to produce content for its upcoming 4G services. We feel that it might cause delays in the launch of RIL’s 4G services.
Before this, Kumar worked at Star TV for 16 years in various leadership roles, which includes Star India’s COO for South Operations, Senior Vice President (Finance) and Chief Financial controller among others. He had put in his papers at Star TV in April 2011.
Interestingly, Kumar was previously on the board of Hathway Cable and Datacom as its non-executive director, until Star India exited from Hathway, selling off its 17.3% stake to two foreign funds – the US-based Providence Equity Advisors and Sydney-headquartered Macquarie Bank for Rs 358 crore in March 2012.
Hathway’s Set-top box Rollout Strategy
In November 2012, Hathway was looking to raise Rs 300 crore through debt and vendor financing and distribute around 4.5 million set-top boxes in 25 cities which come under the second phase of cable TV digitization, according a separate Business Standard report.
The company claimed that it had already installed 1.4 million set top boxes in these 25 cities and was looking to distribute an additional 3.5 million units by March 2013. Hathway also claimed that it had installed 1.9 million set-top boxes in three metros, where it currently has operations and it expects to deploy a total 2.2 million set-top boxes in these metros in the future.