Zee Turner may take channels off Hathway Cable networks
Published on Tue, Feb 09, 2010 at 19:48 | Source : Reuters
Updated at Wed, Feb 10, 2010 at 16:06
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Zee Turner may take channels off Hathway Cable networks
Zee Turner Ltd, a joint venture between Turner International and India's Essel group, said on Tuesday it may switch off several popular channels across networks of Hathway Cables due to payment defaults.
Zee Turner Ltd, a joint venture between Turner International and India's Essel group, said on Tuesday it may switch off several popular channels across networks of Hathway Cables due to payment defaults.
Zee Turner airs 33 channels in India including Zee TV, Zee Cinema, Cartoon Network, Pogo, HBO, Zee Cafe and Zee Business.
"Hathway has been avoiding signing the agreement for airing these 33 channels despite numerous efforts by Zee Turner and now being overdue by almost 10 months," it said in a press release on Tuesday.
Hathway must sign fresh agreements with Zee Turner for availing the services of these channels on expiry of the previous one, it said.
While most of these agreements expired in March 2009 new deals have not been inked yet, it added.
Besides, Hathway owes Zee Turner Rs 280 million, which is nearly 6 months overdue, it said.
Essel group owns Zee Entertainment Enterprises and Zee News, Dish TV and is in joint venture with Diligent Media Corp to run Daily News and Analysis newspaper.
Hathway Cable has filed for an initial public offering with the market regulator to raise up to Rs 7.35 billion.
