Ashok P Hinduja reinstates Group’s commitment towards LCOs; proposes equivalent of ESOPs
This move will give a fillip to LCOs associated with the InDigital cable and NXT Digital HITS platforms, some for over 24 years
Diwali is a time for celebration and in keeping with the festive spirit, business partners and Local Cable Operators (LCOs) of InDigital, the digital cable network and NXT Digital, the HITS or Headend-In-The-Sky network of the Hinduja Group’s media vertical were in for a pleasant surprise.
In a Diwali message via video to distributors and LCOs across the country, Ashok P Hinduja, Chairman, Hinduja Group of Companies (India), announced that, “With the smart turnaround of the media business, the time has come for distributing the shareholding in the form of designing equity based plans to LCOs; as LCOs are the foundation on which the business has been built and every LCO must consider the company as his own. The scheme is currently under development.” He further expressed his immense satisfaction in seeing so many LCOs transform into business persons of stature and success.
This move is expected to help transform the cable landscape in the country and give a fillip to the LCOs who have been associated with the digital platforms of the Hinduja Group – some for nearly 24 years, the time the cable TV business was instituted.
Reacting to the announcement, Ashok Singh, a long-time Business Partner and Distributor in Mumbai said that, “This announcement continues to reflect the culture and the long-standing commitment of the Hinduja Group to the thousands of LCOs, who are a part of the cable distribution business, across the country.” Akram Khan, an LCO, who has also been associated with the Group for over two decades reiterated, “We have always known the Hinduja Group to stand by us, especially when we faced challenge and this announcement shows that the Hinduja Group continues to put its pariwar of LCOs always first. We are delighted to hear this!”
Ashok Hinduja also went on to allay LCO fears saying, “LCOs should not fear competition. Instead, they should feel proud that they are a part of a unique, boutique company delivering quality and differentiated services to its customers and should focus on ensuring that they provide the highest levels of customer service.”
Hinduja also went on to announce a special scheme for LCOs to expand their business and become direct selling agents of various products and services of the Hinduja Group on a fee-based model; with full training and other support from the Group” to be launched soon. This initiative of the Group is expected to help especially smaller LCOs in semi-urban and rural markets, diversify their revenue-streams and help them leverage and monetize their relationships with their customers, even more effectively.
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