Top Story

e4m_logo.png

Home >> Media - TV >> Article

Sun TV joins hands with Astro to provide DTH services

07-April-2007
Font Size   16
Sun TV joins hands with Astro to provide DTH services

The Sun TV group has forged a joint venture with the Malaysia-based Astro All Asia Network Plc to provide direct-to-home services in India. The entities believe that they would be able to provide these services in the second half of 2007.

A prepared statement from Astro informed that under the agreement, South Asia Entertainment Holdings Limited (SAEHL), a wholly owned unit of Astro, would acquire 20 per cent stake in Sun Direct TV Pvt. Ltd for 166 million dollar (nearly Rs 747 crore). Under the existing Indian media regulations for foreign investment in DTH, this is the maximum permissible stake that can be acquired.

The new venture aims to provide direct-to-home satellite TV services in India. The joint venture’s peak funding is estimated to be $670 million and will be incurred over the first five years of operations, through a mix of equity and debt capital. The annual cash flow is expected to become positive in the sixth year of operations.

Astro will fund the acquisition through its existing debt facilities of $300 million or through new alternative borrowings.

The statement further added, “DTH services would be offered utilising satellite transponders on INSAT 4B, which was launched in March 2007.”

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

The aim is to advance the company’s goal of simplifying its business and drive deeper service connectivity to its clients