FDI cap on DTH to stay: Prasad

NEW DELHI: Cold water has been poured over the expectations of Star and Zee-ASC combine if they thought the government would move away from its promised common minimum programme, announced at the beginning, and relax the foreign investment cap in DTH venture from the existing 20 per cent.

This was confirmed by information and broadcasting minister Ravi Shankar Prasad in a written reply to his fellow parliamentarians in the Rajya Sabha (Upper House) today.

After the announcement came in Parliament, a senior I&B ministry official told indiantelevision.com that though the NK Singh panel had suggested raising the FDI cap to 49 per cent in DTH ventures and some of the suggestions were discussed by a group of ministers last week," DTH was never part of that day's agenda."

"We also feel that the minister is not in any hurry to overturn any decision or stand taken by his predecessor," the official said.

Swaraj had, in fact, told journalists late last year that under her the I&B ministry had rejected the Singh panel recommendation on DTH.

On whether government proposes to put in place a regulatory system to ensure licence for DTH is granted to a foreign company which keeps an Indian company as a dummy, Prasad said I&B ministry regulates grant of licence for these services.

Still, it is also a fact that the files relating to permission sought by Space TV and ASC Enterprises Ltd for DTH licences have been lying with Prasad for the last fortnight waiting for a stand to be taken by him on the issue.

"It is in fact quite frustrating to know that the files are with the minister and no decision is being taken on DTH," a senior executive of one of the applicant companies said.

As per existing guidelines, total foreign investment including FDI/Non-resident Indian/Overseas Corporate Bodies/Foreign Institutional Investors in DTH broadcasting shall not exceed 49 per cent within which the FDI component shall not exceed 20 per cent.

Meanwhile, Prasad also informed the house that the government was considering a proposal to review the present norms permitting foreign-owned news channels to uplink from India.

Latest Reads

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
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
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
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
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
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
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
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
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