Anup Tiwari
Contributor
- Joined
- 10 Aug 2013
- Messages
- 8,315
- Reaction score
- 4,461
MUMBAI: The ministry of information and broadcasting (MIB) has approved the merger between direct to home (DTH) platforms Dish TV India and Videocon d2h. The MIB vide its letter dated 15 December has approved the requests made by the company for completion of the transaction. This paves way for the creation of the largest listed media company in India taking into consideration the last reported revenue and EBITDA numbers of the two DTH players on a pro-forma basis. Dish TV and Videocon d2h (Vd2h) reported separate revenue and EBITDA numbers which at a pro-forma level add up to Rs. 60,862 million and Rs.19,909 million for FY17. Following the amalgamation, the combined entity will be renamed as Dish TV Videocon. The combination will have scale similar to leading global cable and satellite players in terms of subscribers. Dish TV Videocon (Dish TV Videocon) would serve more than 29 million subscribers in India as per its combined share on 30 September. Expressing happiness on the development, Dish TV India CMD Jawahar Goel said, “It has been a long journey since the announcement of the agreement between the two companies a year back. We would like to thank the Ministry of Information and Broadcasting, the National Company Law Tribunal, the Competition Commission of India, the Securities and Exchange Board of India, the Stock Exchanges and all other stakeholders for showing their trust in us. I would also like to express our gratitude to our shareholders for standing by us through the transaction and believing in us to take the combined entity to the next level going forward.”
Read more at: Dish TV-Videocon d2h merger deal complete as MIB grants final approval | TelevisionPost.com | TelevisionPost.com
Read more at: Dish TV-Videocon d2h merger deal complete as MIB grants final approval | TelevisionPost.com | TelevisionPost.com
