Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Consumer / Zee Turner may take channels off Hathway Cable networks
BackBack

Zee Turner may take channels off Hathway Cable networks

Zee Turner may take channels off Hathway Cable networks

Premium

Mumbai: Zee Turner Ltd, a joint venture between Turner International and 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 Rs280 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 Rs7.35 billion.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 09 Feb 2010, 07:32 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App