Siti Networks Explained

Siti Networks Ltd
Former Name:Wire and Wireless (India) Limited (1994–2012)
SITI Cable Network Limited (2012–2016)
Type:Public
Traded As:
Foundation:June 1994
Area Served:India
Key People:Subhash Chandra (chairman)
Location:Noida, Uttar Pradesh, India
Industry:Media & Entertainment
Products:Digital cable television
Broadband internet
Local cable TV channels

Siti Networks Ltd, formerly known as Wire and Wireless (India) Limited (WWIL), is a multi system operator (MSO) promoted by the Essel Group (now just 6.1% minority stake holder).[1] The company provides digital cable television services in India and is headquartered in Noida, Uttar Pradesh.[2] [3]

History

WWIL was formed as a part of the de-merger of Zee Entertainment Enterprises Limited – ZEEL, formerly known as Zee Telefilms Limited (ZTL) – the publicly listed flagship company of Zee Group. As per the Scheme of Arrangement approved by the High Court in Mumbai, all the cable TV distribution business within ZEEL and Siti Cable Networks Limited (Siti Cable) was transferred to WWIL as of 31 March 2006. Siti Cable was a 100% subsidiary of Zee Telefilms Limited. The cable operations of Siti Cable were launched in June 1994. SITI Cable was known as Wire and Wireless (India) Limited till 5 September 2012 wherein after it is renamed as SITI Cable Network Limitedit is renamed as SITI NETWORK LIMITED

Fall of promoters' shareholding

In October 2021, it was reported that promoters of Essel Group only had 6.1% stake left in Siti Networks. Ltd.

External links

Notes and References

  1. Web site: Kar. Ayushi. Unpaid dues: Operational creditors may drag Siti Networks to NCLT. 2021-10-18. @businessline. 12 October 2021 . en.
  2. Web site: Finally, tipping point for Cable Television – DNA Analysis . 16 October 2012 . 15 September 2012 . https://web.archive.org/web/20120915003833/http://www.dnaindia.com/analysis/comment_finally-tipping-point-for-cable-tv_1598562 . live .
  3. Web site: Sudhir Agarwal, Chief Executive Officer (CEO), Wire and Wireless (India) Ltd. . 16 October 2012 . 21 December 2011 . https://web.archive.org/web/20111221090057/http://www.indiainfoline.com/Research/LeaderSpeak/Mr.-Sudhir-Agarwal-CEO-Wire-and-Wireless-India-Ltd./29124865 . live .