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DTH News : Anil Ambani’s RCom signs MoU to sell DTH biz to Veecon Media
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[Image: Reliance-Communications-cover.jpg]MUMBAI: In a new twist in the tale, Anil Ambani-led Reliance Communications (RCom) has entered into a binding Memorandum of Understanding with Delhi-based Veecon Media and Television for sale of its subsidiary Reliance BIG TV (RBTV), engaged in the business of Direct to Home (DTH) services across India.

RBTV operates DTH business under the Reliance Digital TV brand.

Pursuant to the transaction, Veecon will acquire the entire shareholding of RBTV with business on ‘as-is-where-is’ basis, along with all existing trade liabilities and contingent liabilities.

The existing DTH license of RBTV will be renewed with the submission of the required Bank Guarantees with the ministry of information and broadcasting (MIB) by the buyer.

The transaction ensures that all existing 1.2 million customers of RBTV shall continue to enjoy uninterrupted services. It also ensures the continuity of employment for approximately 500 employees of RBTV.

The transaction will help reduce the liability of unsecured creditors, benefitting all stakeholders including lenders and shareholders of RCOM. The transaction is in consonance with the RCOM’s stated objective to focus on B2B businesses of New RCom.

The successful culmination of the transaction is subject to the requisite approvals from licensors, regulatory authorities, and lenders of RCom.

Earlier, RCOM had announced that it will shut down its DTH business from 18 November due to the expiry of its DTH licence. It had even tied-up with Tata Sky for migration of its existing DTH subscribers.

Reliance Digital TV is the smallest among the six pay DTH platforms in the country with a measly 2% of 65.31 million active pay DTH subscribers, as on 30 June. Dish TV is the biggest DTH operator with 24% share followed by Tata Sky (23%), Airtel Digital TV (21%), Videocon d2h (20%).

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Airtel Digital HD Recorder / Kerala Vision Digital TV
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#2
Reliance Digital TV gets a new lease of life following RCom-Veecon deal

MUMBAI: Direct to home (DTH) operator Reliance Digital TV has got a second lease of life after Anil Ambani-led Reliance Communications entered into a memorandum of understanding (MoU) with Delhi-based Veecon Media and Television to sell its DTH business to the latter.

Veecon Media & Television was incorporated on 11 January 1996 and has four directors Jaswant Srivastava, Lalit Srivastava, Vijender Singh, and Rohit Rohan. Its authorised capital is Rs 2.5 crore and paid-up capital is Rs 40 lakh.

The DTH business is under a subsidiary company called Reliance Big TV. It is operated under Reliance Digital TV brand.

Earlier, Reliance Communications, which is saddled with a debt of Rs 45,000 crore, had issued a public notice stating that the DTH business will be shut down on 18 November due to the expiry of its DTH licence.

It had even tied-up with rival DTH operator Tata Sky to migrate its existing customers. Not to be left behind, Airtel Digital TV had also come up with an offer to woo Reliance Digital TV customers.

Even as the D-Day was arriving for Reliance Digital TV came the announcement that the DTH operator will be acquired by a little-known company called Veecon.

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Airtel Digital HD Recorder / Kerala Vision Digital TV
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