Multi-system operators (MSOs) have grown their digital cable TV subscriber base rapidly over the last three years. However, while they have raised equity capital and their valuations have shot up, there has also been a growing debt pile due to massive investments in digital infrastructure such as set-top boxes (STBs). DEN Networks’ investment in STBs has been nearly Rs 1,181.7 crore (Rs 11.82 billion) over the past three years. Siti Cable has invested Rs 607.5 crore (Rs 6.08 billion) during...
How digitisation has impacted the credit profiles of MSOs
How digitisation has impacted the credit profiles of MSOs