DTH

Videocon d2h receives shareholder, Competition Commission nod for merger with Dish TV

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public?itok=O0F3fnj4

BENGALURU: The Saurabh Dhoot led Videocon d2h Limited (Videocon d2h) has informed the Security Exchange Commission (SEC) that its equity shareholders have thought it fit and given consent by the requisite majority to the scheme of arrangement for amalgamation of Videocon d2h with Subhash Chandra?s Dish TV India Limited (Dish TV) and their respective shareholders and creditors. In pursuance to the Order of the Hon?ble National Company Law Tribunal, dated 22 March, 2017, the meeting of the shareholders was held on 9 May in Mumbai. The company intends to file the company petition with the Hon?ble National Company Law Tribunal seeking sanction of the scheme.

Further, Videocon d2h has also informed the SEC thaton 9 May 2017 it has received a letter dated 4 May 2017from the Competition Commission of India, approving the proposed combination of Videocon d2h with Dish TV.

Videocon d2h is a Nashdaq listed company, while Dish TV is listed on the NSE and BSE in India and the Luxembourg Stock Exchange in the form of GDRs?. The merged entity, Dish TV Videocon, will have a joint management structure with Jawahar Goel as its Chairman and MD and a vice-chairman and deputy managing director nominated by Videocon D2H shareholders.

According to a Dish TV press release, following the closing of the merger transaction, the merged entity will be renamed as Dish TV Videocon Limited (Dish TV Videocon). Dish TV Videocon shall issue 857.791 million (85.7791 crore) shares as consideration for the Scheme and the Vd2h shareholders shall be allotted 2.021 new shares of Dish TV Videocon for every one share held in Vd2h subject to certain adjustments. This would result in Dish TV shareholders owning 1,066.861 million (106.6861 crore) existing shares or 55.4% of Dish TV Videocon, and Vd2h shareholders owning 857.791 million (85.7791 crore) new shares or 44.6% of Dish TV Videocon.

Dish TV Videocon will be led by Jawahar Lal Goel as Chairman and Managing Director, combining the strength of senior and operating management teams while offering further career growth opportunities for employees of the two merging companies. The Vd2h principals shall have the right to nominate two directors on the Dish TV Videocon Board, one of whom shall be cice chairman and the other a deputy managing director.

The merger is expected to create a leading cable and satellite distribution platform in India. Dish TV Videocon would serve 27.6 million (2.76 crore) net subscribers in India, as of September 30, 2016 on a pro forma basis, out of a total of 175 million (17.5 crore) TV households in India highlighting significant room for growth.

At the close of the merger transaction, the current promoters of Dish TV shall continue as promoters of Dish TV Videocon. The Dish TV principals are also in discussion with the Vd2h principals to purchase some of the Vd2h principals? shares in Dish TV Videocon post the amalgamation, details of which are likely to be finalised soon.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/07/logo.jpg?itok=MHLojQUr
Sony channels back on Tata Sky after a two-month blackout

All’s well that ends well. A commercial dispute between Sony Pictures Networks India (SPNI) and India’s DTH premier operator Tata Sky has finally been resolved mutually. All Sony channels, which were dropped from the satellite platform, have returned after two-month partial blackout --- much to the...

DTH DTH Operator
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/04/tata-sky.jpg?itok=Dbcdb_vD
Theatre has a new stage with Tata Sky

Tata Sky, India’s leading content distribution platform announced Tata Sky Theatre- a 24-hour, first ever ad-free service that brings to its subscribers acclaimed plays and performances from the finest theatre groups on television.

DTH DTH Operator
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/29/jaw.jpg?itok=J_wqAwAr
Dish TV's Jawahar Goel writes to TRAI on rationalizing DTH costs, taxes

Even as the Indian government is readying a new DTH policy, aimed at providing some succor to the financially beleaguered sector, Dish TV MD Jawahar Goel has written to the broadcast and telecom regulator TRAI exhorting it to rationalize costs and taxes being levied presently on the operators.

DTH DTH Operator
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/28/Arun_Unni-Carter_Pilcher.jpg?itok=17JPcZV8
Tata Sky ventures into curated short content with Shorts TV

India’s leading DTH player Tata Sky has entered into a partnership with a London-based television channel Shorts TV for its new platform Tata Sky ShortsTV. The newly launched platform is one of a kind in the country, dedicated to curated short stories and films. The subscription price for this...

DTH DTH Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/22/dishtv.jpg?itok=H3Rv1FDx
Dish TV India Limited has been successfully appraised at CMMI Maturity Level 5 for development and Services Constellations

Dish TV India Limited, world’s largest single-country DTH Company has been appraised at Level 5

DTH DTH Operator
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/06/d2h.jpg?itok=a35aORVX
Brand D2H brings a new perspective, introduces 'Alag Hi View' campaign for the festive season

New Delhi: Dish TV India Limited, the world’s largest single-country DTH Company, launched a new brand campaign for its D2H brand titled ‘Alag Hi View’ for the forthcoming festive season. The campaign aims to highlight the younger, innovative avatar of D2H brand, bringing out its technologically...

DTH DTH Operator
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/05/d2h.jpg?itok=yhtTbt5r
Brand D2H brings a new perspective, introduces ‘Alag Hi View’ campaign for the festive season

Dish TV India Limited, the world’s largest single-country DTH Company, launched a new brand campaign for its D2H brand titled ‘Alag Hi View’ for the forthcoming festive season.

DTH DTH Operator
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/01/dish-tv.jpg?itok=yiaAGJis
Dish TV aims to launch OTT service, hybrid box this quarter

It may be the oldest player but it's mind is as young as you can imagine. With The JioGigaFiber launch, cable and DTH operators are moderating their offerings, distribution strategy as much as possible. Dish TV, the largest DTH player in India is about to offer OTT service and Hybrid box soon.

DTH DTH Operator
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/26/airtel.jpg?itok=43Qklobh
Airtel Digital TV numbers improve as parent company numbers fall again

The Sunil Mittal-led Indian telecom major with operations in 16 countries, Bharti Airtel Ltd (Airtel) reported a year on year (y-o-y) drop in numbers for the quarter ended 30 September 2018 (Q2 2019, period or quarter under review) as compared to the corresponding year ago quarter (Q2 2018).

DTH DTH Operator

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories