HOME > BUSINESS > Pantel’s Vijender Singh buys Den Snapdeal home shopping channel

Pantel’s Vijender Singh buys Den Snapdeal home shopping channel

Den Networks said it sold its home shopping channel to Pimex Broadcast Private Limited based in Noida.

Den entered the business under a joint venture with Jasper Infotech, the holding company of e-commerce firm Snapdeal.com, two years ago.

“The name of DEN and Snap deal will be dropped off from the branding,” said the cable network, which has been facing losses in the new venture.

Pimex is promoted by Vijender Singh, who has “over 15 years of entrepreneurial exposure”.

Singh is a director of Pantel Technologies, which is famous for selling tablets, especially to BSNL users.

“Pimex will own 100% shareholding of Macro.. (It) will take over all the existing liabilities & dues of Macro and both together aspire to be one of the significant players in the TV shopping business,” the cable network said.

At present, the business is dominated by Naaptol.

“Den has already made provisions for its investment in Macro in its books of accounts in the previous financial year and hence, there will not be any further impact in the profit and loss account.”

DEN, like other cable networks, is facing increasing pressure due to the impending launch of JioFiber, the fiber network of Reliance Jio promoted by Mukesh Ambani.

Unlike other cable networks, Jio will support rewinding of TV channels without any extra equipment or Internet connection, and will also offer cheap high-speed broadband plans.

The launch of JioFiber is expected to cause havoc in India’s cable and broadband sector similar to what was seen in the mobile sector, where Jio’s 4G services has pushed all existing players in heavy losses.

“With this Sale DEN will now be focussing on the Indian Cable and Broadband Industry,” the company said.

DEN is one of India’s leading cable TV distribution company reaching an estimated 13 million households in over 200 cities across 13 key states in India.

Follow ULTRA.news
Reliance, Essar triple petrol outlets in 2 yr, continue to expand fast – India Ratings Private players such as Reliance Industries and Essar -- owned by Russia's Rosneft -- have tripled the number of petrol and diesel outlets in India in the last two years, and could double their market share by implementing their ongoing expansion plans, India Ratings said.Fro...
PC Jeweller signs Akshay Kumar, Twinkle Khanna for pan-India expansion PC Jeweller, the Delhi-based jewellery chain, said it signed up Bollywood stars Akshay Kumar and Twinkle Khanna as it gets ready for a pan-India expansion.The brand, which started 12 years ago with a single shop in Karol Bagh in New Delhi, today has close to 80 outlets. Most...
Future Retail to pay Rs 500 cr in stock, 155 cr cash for Hypercity Future Retail will pay most of the cost of its proposed Hypercity acquisition by issuing new shares, and only about a fourth will be paid in cash.The deal will put even more distance between Future, which operates chains such as Big Bazaar and Central, and other players in I...
Reliance Jio to tie-up with Den Networks for fiber launch? A day after Reliance Industries said it would not comment on media speculation about acquisition talks with Den Networks, the cable company has issued a largely identically worded statement. However, the statement seemed to indicate the possibility of a tie-up or agreement rathe...
Is Reliance Jio about to acquire Den Networks? Reliance Industries refused to deny or confirm media reports about its telecom unit Jio being in talks to acquire cable operator Den Networks.Shares of Den Networks, one of India's largest cable networks, are up 6.2%, having opened higher on the news."We are unable to co...
Sony loses IPL rights to Star India Star India, part of Rupert Murdoch's media empire, has won the rights to broadcast Indian Premier League matches for the next five years, edging out Sony India.The company bid Rs 16,347 cr for the privilege, edging out other groups such as Discovery. This comes to about Rs 3...
Maruti Suzuki to rebrand its car showroom network in India After introducing a separate showroom network for its higher-end cars by the name of NEXA, India's largest carmaker Maruti Suzuki said it will not overhaul, transform and rebrand its remaining car showrooms in the country.The Company targets to set up over 80 showrooms under ...
Republic TV’s 5-star Facebook ratings disappear mysteriously Tens of thousands of five-star ratings given to Arnab Goswami's Republic TV mysteriously disappeared over night, pushing the rating on the channel's official page to a low of 2.1 stars out of 5.0.It is not clear why the ratings were removed.Over the last three days, the c...
SpiceJet enters offline retail, offers free tickets to Goa, Bangkok Airline SpiceJet said it has opened its first physical store under its new ‘SpiceStyle’ retail brand at Galleria Mall in Gurgaon, near Delhi.The launch of its first physical store marks SpiceStyle’s entry into the offline segment besides its ecommerce portal and a brand sto...
SpiceJet enters e-commerce business with Amazon SpiceJet, arguably the most aggressive low-cost carrier in India, has entered the e-commerce business with a new venture named 'SpiceStyle!' and also tied up with online giant Amazon.SpiceStyle.com mostly offers fashion itemsProducts from the company will be available vi...
Honda Motorcycle to open 53 second-hand shops in India this year Encouraged by a strong response, Honda Motorcycle & Scooter India said today it was advancing its roll-out target for its 'Best Deal' second-hand motorcycle chain in India.The company said it would add another 50 such pre-owned motorcycle shops in India in the remaining nine...
V2 Retail sees organized sector share tripling to 24% in three years V2 Retail, formerly known as Vishal Retail, said it expects organized retail in India to grow a strong pace in the next three years to increase its share of the overall market to 24% by 2020.At present, the share of organized retail -- mostly super markets and hyper markets,...
FTV starts seven free 4K UHD channels over India Fashion TV has kicked off the 4K revolution in India by starting to transmit seven Ultra-HD television channels into the country and surrounding regions.These are the first free 4K channels that can be accessed from India easily.Each frame in a UHD video contains 8 mln do...
After Zee Entertainment, Sun TV slashes channel prices ahead of TRAI rules After Zee Entertainment, it is the turn of Sun TV to slash its channel prices with effect from Sept 1 in anticipation of the implementation of new channel pricing rules by TRAI.The Telecom Regulatory Authority of India had, three months ago, announced that media companies...
Zee Entertainment slashes channel prices ahead of TRAI regulation Zee's new tariff card for HD channelsZee Entertainment, one of the four big broadcasting groups of India, has become the first player to bring its channel prices in line with an upcoming regulation issued by the Telecom Regulatory Authority of India.Zee's new tariff card...
Arnab Goswami’s Republic TV launching this weekend Republic TV, the English-language television channel headed by journalist Arnab Goswami will go on air on several cable and DTH platforms in India starting Friday evening.Official confirmation came from Dish TV, India's oldest DTH platform, which confirmed that the channel wi...
Republic TV will be nationalist, pro-military & global – Arnab Goswami Arnab Goswami announcing a Q&A on RedditRepublic TV, the upcoming news channel, will be staunchly nationalist and pro-military, and will attempt to bring back 'balance' into a media dominated by a small set of academics and intellectuals in the capital, going by the comm...
Tata Sky starts testing Arnab Goswami’s Republic TV, launch tomorrow? Arnab Goswami's Republic TV's is reported to be readying for its launch next week, with DTH operator Tata Sky starting test transmission of the channel.The channel is expected to carry the number 616, and be officially available from 10 PM on Friday, May 5.UPDATE: The cha...
Arnab Goswami teases the launch of Republic TV A videograb from the 'teaser'Arnab Goswami, arguably the most talked about Indian journalist in recent years, has released a teaser video on the upcoming launch of his new television channel Republic TV.The video shows Goswami writing a letter to Mr Gandhi -- perhaps a r...
Working Reliance Jio ‘DTH’ video uploaded by Gujarat-based test user the video of the so-called Jio DTHA video of a working Reliance Jio 'DTH' TV has been leaked by a Gujarat-based Youtube user, even as Airtel unveiled its own 'Internet TV' today.The Youtube user demonstrates a working set-top-box, complete with HD channels and various ot...