DTH
Dish TV re-evaluating Videocon d2h merger
MUMBAI: The Dish TV-Videocon d2h merger had reached the final stage with the Ministry of Information and Broadcasting (MIB) giving it the green signal. Then, suddenly on 22 December, Dish TV announced that the union would be delayed beyond 27 December 2017 citing technical reasons. Now those reasons–it basically is revaluating the deal–are likely to hold up the fusing of the two DTH operators even further.
Dish TV yesterday informed the BSE that it had told its advisors–which include financial advisor Morgan Stanley, E&Y, SR Batliboi & Co and Luthra & Luthra Law Offices-to re-examine the deal terms within 60 days.
It said that it was taking this step as “it has come to our knowledge that certain entities belonging to the Videocon group, including the promoters of Videocon D2h Ltd, have become subject to insolvency and/or enforcement proceedings by lenders. The company is evaluating as to whether there is any impact of the same on its rights and obligations under the definitive agreements, and consequential effects on the transactions contemplated.”
The companies had announced a merger in November 2016 tom-tomming the benefits that would accrue to the two if they went ahead. And both companies went about the process getting the various regulatory approvals required. In early March 2017, the merger got the NOC from the BSE and the NSE, Competition Commission of India clearance on 4 May 2017, shareholder approval through a meeting convened by the National Company Law Tribunal (NCLT) on 12 May 2017, and the NCLT green flag on 27 July 2017, and the MIB go ahead on 15 December 2017.
As per the terms of the merger Dish TV Videocon d2h was to issue 857.79 million fresh shares. Shareholders of Videocon d2h were to get 2.02 shares of Dish TV Videocon for every share of Videocon d2h. D Dish TV shareholders would own 55.4 per cent shares of the merged entity while Videocon d2h would own the remaining 44.6 per cent.
Dish TV is pressing the pause and review button at a time when at least two transactions in the direct-to-home segment have been completed. Late last year, private equity firm Warburg Pincus picked up a 20 per cent piece of Airtel DTH for a handsome price of $350 million valuing the entire operation at $1.7 billion. Then Delhi-based Pantel Technologies and Veecon Media bought out all the losses, debt, and liabilities of Reliance Big DTH from the Anil Ambani group, bringing to a close a long struggle by the latter to exit the DTH business.
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DTH
DD Free Dish e-auction revenue dips to Rs 642 crore as slot sales fall
Revenue dips as revised norms reshape bidding in 94th round
NEW DELHI: Prasar Bharati’s DD Free Dish has closed its 8th annual, and 94th overall, e-auction for MPEG-2 slots with total collections of Rs 642 crore for the period April 1, 2026 to March 31, 2027.
That is lower than last year’s Rs 780 crore haul, with 55 slots sold compared with 61 in FY25–26. The softer topline reflects both a slimmer inventory and a recalibrated auction framework.
This was the first auction conducted after amendments to the e-auction methodology, including tighter eligibility norms and a revised reserve price structure for MPEG-2 slots. The stated aim was greater transparency and more serious participation. The immediate outcome appears to be more measured bidding in certain categories.
Day one set the tone. Eight slots were sold, six in the premium Bucket A+ and two in Bucket A. The strong early action in A+, which typically houses Hindi GECs and movie channels, reaffirmed the enduring appeal of mass Hindi programming on the platform.
Among the broadcasters securing slots in the initial rounds were Zee Entertainment Enterprises, Sony Pictures Networks India, Viacom18’s Colors network, Sun Network and Shemaroo Entertainment. Their continued presence signals that, despite the pull of digital platforms, Free Dish remains a strategic must have for legacy networks chasing scale in price sensitive markets.
The final bouquet of 55 channels leans heavily towards Hindi news, movies, devotional fare, Bhojpuri and regional programming.
In Hindi news, familiar heavyweights such as Aaj Tak, ABP News, India TV, News18 India, Republic Bharat and Zee News made the cut. Entertainment and movie offerings include Colors Rishtey, Star Utsav, Dangal TV, Sony Pal, Shemaroo TV, Goldmines, B4U Movies and Zee Biskope. Devotional viewers will find Aastha, Sanskar and Sadhna Gold among the selected channels.
Regional representation includes Sun Marathi, Fakt Marathi, PTC Punjabi and GTC Punjabi.
Equally telling were the absences. Broadcasters such as Big Magic, Filamchi Bhojpuri, India News, Bharat Express, Movieplex Maithili, TV9 Marathi, Shemaroo Marathibana, Zee Chitra Mandir and Satsang did not participate. The pullback is particularly visible across Marathi, Bhojpuri, Maithili and spiritual programming. Industry observers point to the revised reserve prices, tighter eligibility norms and a reassessment of commercial viability as possible factors.
DD Free Dish continues to beam into over 40 million homes, largely in rural and semi urban India. For advertisers and broadcasters alike, it offers efficient access to Bharat markets where pay TV penetration remains uneven and OTT subscriptions are limited.
The moderation in revenue this year may be read as a pause rather than a retreat. Fewer slots, a reworked auction playbook and evolving broadcaster strategies have clearly shaped outcomes. Yet premium Hindi entertainment retains its pull, and the platform’s mass reach remains hard to ignore.
As the FY26–27 line-up settles in, the mix of winners and walkaways will define the private satellite channel landscape on DD Free Dish for the year ahead.
