On 15 December, the Ministry 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.
Now after the merger, 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.
According to Dish TV India CMD Jawahar Goel, “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.”
Dish TV India Group CEO Anil Dua commented: “Together, Dish TV and Videocon d2h are going to write history as we embark on this journey of delighting our ‘29 million and growing’ customer base. It is an exciting way ahead as we get this opportunity to leverage the individual strengths of the two organisations. I feel reassured looking at the formidable combination of these two talented teams that are now going to be working together towards a shared vision and common goals.”