Dish TV

Last updated

DishTV India Ltd.
Type Public
BSE:  532839
NSE:  DISHTV
ISIN INE836F01026
Industry Satellite television
Founded2 October 2003;18 years ago (2003-10-02)
HeadquartersSector 16A, Film City, ,
India [1]
Key people
Jawahar Goel (CMD) Anil Dua (CEO)
Products Satellite pay television, pay-per-view, streaming television
BrandsDish TV
d2h
Zing digital
RevenueDecrease2.svg3,569 crore (US$470 million) (2020) [2]
Decrease2.svg−1,222 crore (US$−160 million) (2020) [2]
Decrease2.svg−1,654 crore (US$−220 million) (2020) [2]
Owner Yes Bank (25.63%)
Individual shareholders (24.42%)
Deutsche Bank (6.16%)
Essel Group (5.93%)
Housing Development Finance Corporation(4.73%)
IndusInd Bank Ltd.(3.78%)
L&T Finance (1.95%)
Aditya Birla Sun Life Asset Management (1.59%)
Number of employees
407 (2020) [2]
Subsidiaries d2h,Zing Digital
Website www.dishtv.in

DishTV India (stylised as dishtv) is an Indian direct broadcast satellite service provider in India with Yes Bank as biggest stake owner. [3] DishTV was launched by the Zee Group on 2 October 2003. It ranked #437 and #5 on the list of media companies in Fortune India 500 roster of India's largest corporations in 2011. [4] Dish TV was also voted India's most trusted DTH brand according to the Brand Trust Report 2014, a study conducted by Trust Research Advisory. [5] [6] On 22 March 2018, Dish TV completed a merger with Videocon d2h, creating the largest DTH provider in India at the time of merger.

Contents

History

DishTV launched the first DTH service in India on 2 October 2003. The company decided not to compete against entrenched cable operators in metros and urban areas, and instead focused on providing services to rural areas and regions not serviced by cable television. Jawahar Goel, who led the launch, recalled 10 years later, "We hardly had four transponders and could offer only 48 channels, compared to analog cable that was giving 60 and was much cheaper. And, STAR refused to give its channels. So, we decided to go slow and concentrate in cable-dry and cable-frustrated markets, rather than cable-rich markets and build the market step by step." Dish TV acquired 350,000 subscribers within 2 years of the launch. [7]

Following bitter legal proceedings between STAR and Zee, in 2007, the two companies called a truce and began offering their channels on each other's services. This decision and Dish TV's acquisition of more transponders enabled them to offer 150 channels on their service, more than any other DTH service in India at the time. [7]

Merger with Videocon d2h

On 11 November 2016, the Board of Directors of Dish TV and Videocon d2h agreed to an all-stock merger of their DTH operations. The merger will create the largest DTH provider in India with a total valuation of 17,000 crore (US$2.3 billion). The merged entity would have been called DishTV Videocon Limited. Dish TV would hold a 55.4% stake in the merged entity, while Videocon d2h would own the remaining shares. As on 30 September 2016, the two companies combined would had a combined 27.6 million subscribers out of the estimated 175 million Indian households that own a television. [8] [9] [10]

The merger was approved by the Competition Commission of India (CCI) on 10 May 2017, [11] and by the National Company Law Tribunal on 27 July 2017. [12] [13] The merger faced uncertainty in January 2018, when Dish TV announced that it was re-evaluating the merger after some of the Videocon Group's lenders petitioned the National Company Law Tribunal to open insolvency proceedings against the company. [14] In February 2018, Dish TV announced that it intended to go through with the merger. [15]

The amalgamation was officially completed on 22 March 2018. The merger made the new combined entity the largest DTH provider in India with 17.7 million active subscribers. Dish TV and Videocon d2h reported separate revenue numbers in FY2017. The combined total revenue of the two firms was 8,077 crore (US$1.1 billion). The company retained the name of DishTV India Limited after the merger. [16]

Fall of promoters' shareholding

In May 2021, it was disclosed that promoters' shareholding in Dish TV has fallen to just 5.67%. It was also told that Yes Bank has become largest shareholder of the company. [17] [3]

Zing Digital

Zing Digital is a subsidiary of Dish TV India launched in January 2015 to provide access to South India's regional channel. The service currently operates in Kerala, West Bengal and Odisha. [18]

See also

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References

  1. Dish TV Contact Info
  2. 1 2 3 4 "Dish TV Ltd. Financial Statements". moneycontrol.com.
  3. 1 2 Sood, Gopika Gopakumar,Varun (10 October 2021). "At Dish TV, a Zee/Invesco-like drama is about to unfold". mint. Retrieved 10 October 2021.
  4. "Dish TV makes it to Fortune India 500, 4 biggies exit list". MxM India. Retrieved 1 August 2012.
  5. "Dish TV voted as India's Most trusted DTH Brand".
  6. "India's Most Trusted DTH Brands 2014". Trust Research Advisory. Archived from the original on 4 October 2014.
  7. 1 2 Gupta, Surajeet Das (1 January 2014). "10 years of DTH in India: The other electronics revolution". Business Standard India. Retrieved 1 October 2016.
  8. "Dish TV, Videocon d2h to merge". The Hindu. 11 November 2016. Retrieved 12 November 2016.
  9. "Videocon d2h to merge with Dish TV". Forbes India. Retrieved 12 November 2016.
  10. Editorial, Reuters. "Indian satellite TV operators Dish and Videocon d2h to merge". Reuters India. Retrieved 12 November 2016.
  11. Ahluwalia, Harveen (10 May 2017). "Dish TV and Videocon d2h merger gets CCI approval". www.livemint.com/. Retrieved 18 November 2017.
  12. "NCLT approves Dish TV-Videocon D2h merger, to have subscriber base of 27 mn". Business Standard India. Press Trust of India. 27 July 2017. Retrieved 18 November 2017.
  13. "Govt. approves Dish TV merger with Videocond2h". The Hindu. Special Correspondent. 16 December 2017. ISSN   0971-751X . Retrieved 29 December 2017.CS1 maint: others (link)
  14. Dhanjal, Swaraj Singh (12 January 2018). "Videocon-Dish TV merger may get affected by insolvency case against Videocon Industries". livemint.com/. Retrieved 11 April 2018.
  15. "Zee's Dish TV to go ahead with Videocon D2H merger". Hindu Business Line. Retrieved 11 April 2018.
  16. "Dish TV India, Videocon d2h merger completed". The Economic Times. 22 March 2018. Retrieved 11 April 2018.
  17. "Dish TV promoters' stake falls to 5.67%". The Economic Times. Retrieved 10 October 2021.
  18. "Dish TV Launches Zing Digital". The New Indian Express. Retrieved 18 May 2021.