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Indiantelevision.com's Digital Edge

Chandra's Agrani Satellite Services to take 14% stake, invest $64 million in ProtoStar satellite

By SIBABRATA DAS
Indiantelevision.com Team

(15 December 2007 8:00 pm)

MUMBAI: Subhash Chandra-promoted Agrani Satellite Services Ltd is acquiring 14 per cent stake and will invest $64 million in ProtoStar satellite.

Agrani Satellite Services will have all the 14 Ku-band transponders of the satellite, enhancing Dish TV's capacity to offer more channels to its direct-to-home (DTH) subscribers.

"We will be investing $64 million over a five-year period. The satellite will help boost Dish TV's transponder capacity," Zee Network whole time director Punit Goenka tells Indiantelevision.com. Goenka is also Zee Entertainment Enterprises Ltd (Zeel) network operating officer.

This will be ProtoStar Ltd's first satellite and is scheduled to launch in May 2008. ProtoStar 1 will also have 12 C-band transponders and will launch from Kourou in French Guyana.

ProtoStar Ltd. has already announced that it would be leasing out five C-band transponders to PlanetSky Ltd. of Limassol, Cyprus.

Indiantelevision.com had earlier reported that Agrani Satellite Services will be investing in ProtoStar's first satellite.

Dish TV is looking to expand its channel offerings. The DTH service provider is adding two transponders on NSS-6 satellite in January. This will take its total number of transponders on NSS to 11.

ProtoStar Ltd, a Bermuda corporation, is funded by a clutch of venture firms - New Enterprise Associates, VantagePoint Venture Partners and RedShift Ventures. The satellite services company acquires, launches and operates high-power geostationary satellites for DTH satellite television in the Asia-Pacific region.