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Dhoot brothers-owned Videocon will own 44.6% in the merged entity, while the billionaire Subhash Chandra’s Essel Group will have 55.4% stake
Videocon d2h, the direct-to-home (DTH) television arm of Videocon Industries Ltd, and Zee Entertainment Enterprises Ltd-owned DTH platform Dish TV will merge to form the single largest pay TV operator with 27.6 million net subscribers.
The board of directors of both companies approved the merger on Friday and the new entity will be renamed Dish TV Videocon Ltd, Dish TV and Videocon d2h said in the statement.
“The proposed transaction is expected to provide better synergies and growth opportunities and enable Dish TV Videocon to provide differentiated and superior service to all customers through deeper after-sales, distribution and technology capabilities, and also become a more effective partner for TV content providers in India,” the companies said.
At present, India has six private DTH firms—Dish TV India Ltd, Videocon d2h, Reliance BIG TV Ltd, Tata Sky Ltd, Sun Direct TV Pvt. Ltd and Bharti Telemedia Ltd.
Source: http://www.livemint.com/Companies/y...-to-merge-with-Dish-TV-create-new-entity.html