DTH

Silver Eagle to invest in Videocon d2h for at least one third stake

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/dth-images/2015/01/06/videocon_logo.jpg?itok=2Zq7Q0MR

BENGALURU: Silver Eagle Acquisition Corp (Silver Eagle), founded by former Metro-Goldwyn-Mayer  (MGM) chairman and chief executive Harry Sloan and veteran television executive Jeff Sagansky, has announced that it will invest between $ 300 million to $375 million in Videocon d2h for a stake of between 33.5 per cent to 38.6 per cent. Sloan and Sagansky are expected to join the Videocon d2h board when the deal closes. Silver Eagle hopes to take Videocon d2h public in the US.



In exchange for cash, Silver Eagle will receive new equity shares of Videocon d2h initially valued at no less than $303.7 million representing no less than 33.5 per cent of the equity capital of Videocon d2h.  The shares issued by Videocon will be represented by American Depositary Shares (ADSs) which will be distributed directly to Silver Eagle's stockholders.



The actual amount of cash to be contributed by Silver Eagle and the number of Videocon d2h shares represented by ADSs to be issued by Videocon d2h will depend, in large part, on the number of public shares which its stockholders elect to redeem in connection with the transaction.



The current shareholders of Videocon d2h, who are all members of the Videocon Group, will also be entitled to be issued additional equity shares of Videocon d2h following the closing representing, in aggregate, 3.88 per cent of the post-closing issued share capital of Videocon d2h, subject to the achievement of certain trading price targets over a three year period after closing.



The investment proceeds will be used for reducing debt and expanding operations in India that will undergo the third and fourth phases of cable television digitisation in India, offering large growth opportunities say industry sources.



Sloan said, "We created Silver Eagle for the purpose of finding a fast-growing media opportunity which is taking full advantage of the digital revolution.  With almost 10 million digital subscribers, this well-managed company has passed the inflection point to become a leader in India's explosive television growth."



Sagansky said, "Videocon's DTH business is in what we believe to be the fastest growing segment of the media industry in India in part because of the government's ongoing mandatory digitisation plan in addition to millions of Indian homes subscribing to pay TV for the first time.  Together there is an expected 33 million new Pay-TV subscribers over the next four years and we are pleased to become part of Videocon d2h's dynamic growth story."

Videocon Group chairman Venugopal Dhoot said, "Our DTH service already offers the highest number of channels in each of our packages and we were the first company to launch HD channels in India.  We anticipate that the transaction with Silver Eagle will not only give us additional capital to continue development of our services, but also unparalleled expertise and experience.  We look forward to working closely with Harry and Jeff on expanding our market share and services."



Videocon d2h started in 2009 is a member of the global conglomerate Videocon Group, which owns interests in consumer electronics, oil and gas, power, retail and insurance, among others.  Videocon d2h has grown to a subscriber base of 1.18 crore or a market share of about 16.5 per cent of India’s direct-to-home market as of last September. It distributes more than 500 digital television channels.



The deal, when it goes through, will put the valuation of Videocon d2h at around $ 1 billion plus ($ 100 crore).



Other acquisitions by Sloan and Sagansky include the in-flight entertainment companies Row 44 and Advanced Inflight Alliance AG through Golden Acquisition Corp.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/16/TV.jpg?itok=9blmvI14
STB import duty doubled to 20%

NEW DELHI: In a fresh bid to boost domestic production under the Make in India project, the Indian government has increased the import duty on set-top boxes (STBs) to 20 per cent, including a host of other electronic items such as TVs sets and smartphones.

DTH DTH Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/dish-tv.jpg?itok=Sm2QtQHV
MIB clears path for Dish TV Videocon

MUMBAI: Even as a new global media powerhouse was created in the US yesterday with Disney’s buyout of Fox's entertainment assets for $52.4 billion, India’s ministry of information & broadcasting (MIB) has cleared the decks for Dish TV and Videocon d2h paving the pathway for the creation of a...

DTH DTH Operator
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/13/airtel.jpg?itok=9Oi3qBAl
Airtel TV valuation at $1.75 bn as Warburg Pincus picks up 20% stake

Confidence in the TV distribution sector seems to be returning, the OTT euphoria notwithstanding. Bharti Airtel today announced that it has struck a deal with Warburg Pincus under which an affiliate of the global private equity firm will acquire a 20 per cent equity stake in its DTH arm which...

DTH DTH Operator
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/vishal.jpg?itok=N1KIYXUU
Warburg Pincus to buy 20% in Airtel’s DTH arm

Global private equity firm Warburg Pincus will acquire up to 20 per cent equity stake in Bharti Telemedia Limited (Bharati Telemedia), the DTH arm of Airtel, for around $350 million. Of this, 15 per cent stake will be sold by Bharti Airtel and the remaining by another Bharti entity, which holds 5...

DTH DTH Operator
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/06/goel.jpg?itok=67m_ghdJ
Dish TV reports improved operating profits for second quarter

BENGALURU: Hit by a double whammy–that of demonetisation and the implementation of the new goods and services tax (GST)–Indian media and entertainment (M&E) companies have been struggling to attain and/or maintain black in their financials.

DTH DTH Operator
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/29/Saurabh%20Dhoot.jpg?itok=6An_5mK1
Videocon d2h reports another profitable quarter

BENGALURU: Saurabh-Dhoot led Indian DTH player Videocon d2h reported profit after tax (PAT) of Rs 168 million for the quarter ended 30 September 2017 (Q2 FY 2017-18). The company had reported PAT of Rs 12 million for the immediate trailing quarter (Q1 FY 2017-18) and PAT of Rs 148 million for the...

DTH DTH Operator
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/17/Tata_Sky_Beauty.jpg?itok=2uJt4gQQ
Tata Sky adds beauty-based interactive channel

MUMBAI: Tata Sky has expanded its interactive channel list by adding Tata Sky Beauty, in partnership with FTheCouch (FTC) Beauty Studio, which is promoted by actor Suniel Shetty. It will feature your favourite actors sharing tips and tricks on makeup, skincare and the latest fashion trends in an...

DTH DTH Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/16/DTH1.jpg?itok=LMILc64e
Sun Direct partners Harmonic to add 80 HD channels

MUMBAI: DTH operator Sun Direct (Sun) has taken up a new HEVC media processing solution from video delivery services, Harmonic, which will enable it to entertain its viewers with 80 extra HD channels.

DTH DTH Operator
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/15/dish-tv.jpg?itok=mlB4piNs
DishTV introduces Dance Active Service

DishTV, Asia’s largest DTH player, has set the stage for millions of aspiring dancers of the country to pursue their passion by launching the new ‘Dance Active’ service on their platform. With this introduction DishTV will enable its strong subscriber base of 15.7 million (Net) to actively follow...

DTH DTH Operator

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories