Dish TV-Videocon d2h merger deal: MIB grants final approval

Dish TV India today said it has received approval from the Ministry of Information and Broadcasting (MIB) for merger of Videocon d2h with Dish TV, thereby completing the transaction.          

The Ministry of Information and Broadcasting vide its letter dated December 15, 2017 has approved the requests made by the company for completion of the transaction, the company said in a BSE filing.             

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 proforma basis, the company said.     

Jawahar Goel, CMD, Dish TV India Ltd said: "It has been a long journey since the announcement of the agreement between the two companies a year back.             

The merger has earlier got approval from the National Company Law Tribunal, the Competition Commission of India, the Securities and Exchange Board of India and the stock exchanges.       

The merged entity Dish TV Videocon Ltd (Dish TV Videocon) would serve more than 29 million subscribers in India as per its combined share on September 30, 2017.