Hathway Bhawani Cabletel & Datacom’s MD and CEO Samson Jesudas has quit the company (pdf). Jesudas joined Hathway Cable and Datacom in 2008 and since has held various positions like head of operations, director of operations, vice president, India head and director of operations across Hathway companies like Hathway Sonali, Hathway Rajesh Cable & Datacom, before he was appointed as CEO in March 2014.
Prior to that, Jesudas worked with Indusind Media and Communication as the chief marketing and distribution officer, AVP at Zee Turner, business unit manager at Mustafa Sultan Enterprises and regional manager at Star India for a collective of 11.5 years. He has worked with Hathway for over 29 years.
Hathway Bhawani offers digital cable TV in Mumbai, New Mumbai, Karjat and Mumbra in Maharashtra and broadband internet in Mumbai and New Mumbai. It also runs Hathway Bhawani Cinema (HB Cinema and HB Movies) TV channel.
Hathway broadband de-merge
Earlier this week, Hathway Cable said that its board would meet on October 15th to consider demerging its broadband business. The company has been mulling hiving off the business since October last year but at that time, the definitive terms and conditions of the demerger were being evaluated. The demerger of the ISP Business from Hathway Cable could happen after payment of Rs 98.05 crore by Hathway Broadband to the parent company.
Hathway has been looking to increase its share in the broadband market for a while now, with initiatives like Broadband Movies with Eros Now. The company has also been offering a 50 Mbps default minimum speed in the cities of Bangalore, Hyderabad, Mumbai and Pune, although with abysmally low data caps. Hopefully with this demerger, the company’s Internet business will be able to offer better and more competitive services, especially when competitors offer double the data caps with twice the speed for similar prices.
IPO for Gujarat Telelink
In August, Hathway Cable’s board of directors approved an IPO for its subsidiary GTPL (Gujarat Telelink Pvt Ltd), via fresh issue of shares with an option for existing shareholders of GTPL to sell shares held by them. The company did not provide a timeline for the IPO.
Mumbai internet slowdown:
In July, Internet Service Providers (ISPs) in Mumbai came under a heavy Distributed Denial of Service (DDoS) attack from unknown hackers, reducing the internet surfing speed in the city. Hathway officially issued a statement to its users citing “Dear users due to International hacker attack on major Indian ISPs N/w, we are facing big issue of slow speed and fluctuation of line.”