Zee will not spun off SitiCable as separate company

Televisionpoint.com Team
Zee Telefilms Limited today has denied that it will undergo major restructuring, with its cable service division, SitiCable, being spun off as a separate company.

With reference to the news item appearing in a leading financial daily regarding the plan to hive off of its cable TV unit into a separate Company, Zee Telefilms LTD has clarified that as on date the Company has not finalised any such plans to restructuring the Company business and that the news is denied to that extent.

SitiCable is the largest cable networks in the country with the highest subscriber base. The report has said that Zee company secretary Vikas Gupta said the valuation process has begun and the setting up of the new company would take about a month, Zee has even denied this.

Recently, SitiCable has appointed Jagjit Singh Kohli as its CEO, who will have the overall responsibility for all revenues and territories of Siticable with a view to develop business and maximise the revenue and collection from each territory.