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Tag: Zee Entertainment Enterprises

  • Bytedance elevates Abhishek Karwar to head of global creative & emerging markets – user growth

    Bytedance elevates Abhishek Karwar to head of global creative & emerging markets – user growth

    NEW DELHI: TikTok developer Bytedance has elevated Abhishek Karwar to head of global creative and emerging markets – user growth. Karwar had joined the organisation in December 2019 as head of user growth.

    During his two decades in the media and entertainment industry, Karwar has experience managing and scaling up digital businesses and heading product development, marketing and product marketing functions on a global level. He is well-versed in building platforms, negotiating partnership deals and executing go to market strategies.

    The NIIT graduate considers his specialities to be in the field of short format videos, OTT technologies, digital media, broadcast media, business strategy.

    Prior to his role at TikTok, Karwar had a brief stint as head of sales and marketing at Intuition Intelligence. He has also been associated with Mirriad, Zee Entertainment Enterprises, Times Group and ITC Infotech.

    Karwar’s elevation comes at a time when Bytedance is downsizing its workforce in India after a months-long ban on its moneymaker, TikTok. Undeterred by this short-lived foray in one of its biggest markets, the Chinese app developer is expanding its operations worldwide, and has particularly ramped up recruitment in Singapore. The Beijing-headquartered company has also come under global scrutiny over TikTok’s data collection practices.

  • Zee’s leadership stance needs to be emulated

    Zee’s leadership stance needs to be emulated

    MUMBAI: The pandemic has officially infected around 14 million globally, felling close to 600,000 in its wake. The count for India is over a million, with over 25,000 being slain by the dastardly SARSCOV2.

    As harmful, or even more, is the economic and business mayhem it has caused, with confidence both at the producer and consumer end at a well-bottom low. With its rampage not looking like stopping  anytime too soon and warnings being aired by the World Health Organisation and  other health bodies that Covid2019 is here to stay till next year, bringing the confidence back up to a healthy level seems extremely challenging.

    Producers have to see light at the end of the Covid2019 tunnel to start thinking of promoting their products like they used to earlier. Not that their pockets are bulging; they will spend whatever well-shaved marketing budgets they have prudently with an eye on return on investment. Everyone is looking for some green shots of a return of confidence to open their purses.  And they are looking at each other to see who will sprint from the promotion starting blocks first.

    Zee Entertainment Enterprises (Zee) decided to take the initiative on this front. Hence, it rolled out an outdoor campaign wherein it featured some of India’s leading advertisers and their brands, announcing the date of the comeback of fresh episodes of shows on its general entertainment channels. It was a great move.

    First, it recognised some of the advertisers who have been at it, putting TVCs out on television over the past few months when everyone was going snip-snip on their budgets. Secondly, it created a suspense-surprise element around who was behind the billboards, generating some buzz. Thirdly, it got people to start thinking whether they too should open their advertising spigot. Fourthly, it took a leadership in spending to promote its own products – namely its shows, clearly saying that it was walking the talk. Fifthly, it helped give some much-needed fluids to the emaciated outdoor sector. Lastly, it made an event out of it. ‘

    It had its work cut out definitely; it had to get disparate brand managers to agree to its plan. Then it had to execute each brand’s creative similarly so that not one of them would take affront.

    And of course, it picked up the tab, something the brands would have been more than happy with.

    Did it raise confidence?

    Indeed, it was a feel-good sight, outdoor sites promoting products, rather than carrying morbid messages about Covid2019.

    As advertising guru Piyush Pandey told indiantelevision.com in a one on one virtual fireside chat recently:  “Partnerships will play a crucial role in helping recover what we have lost courtesy the pandemic and lockdown.”

    The pandemic is here to stay for a while. We will have to manoeuvre our way around it, through it and behind it, as it tries to cripple us even further.  As they say: “the show must go on.”

    One of the ways that can help make the burden of the show going on appear lighter is through partnerships. More and more companies can resort to such innovative collaborations. With supply chains getting in place and the country’s manufacturing engine beginning to chug, what is needed is some happy promotions and advertising to cheer us even as we are assailed by the dreary news daily about the increasing death toll as well as the much-tattered economy. 

    Follow Tellychakkar for the consumer facing news & entertainment

  • News channels fail to retain previous week’s shine; fall marginally in week 13 of BARC

    News channels fail to retain previous week’s shine; fall marginally in week 13 of BARC

    MUMBAI: As we are about to conclude the third week of the 21-day lockdown due to the COVID-19 situation, the overall news genre viewership has slumped marginally in week 13 (28 March – 3 April) of Broadcast Audience Research Council (BARC) India, as compared to the earlier week (21-27 March).

    Hindi news channels fell by over 11 per cent, while English news channels by a mere 2 per cent. Despite the fall in week-on-week basis, the news channels have shown a stellar performance this week too in terms of viewership as same as the last two weeks i.e. week 11 and 12 of BARC.

    The COVID-19 pandemic has forced the whole nation to go under lockdown and only news channels generate fresh content by giving a timely update of the rising infected and death counts.

    Leading the chart for the straight thirteenth week, TV Today Network’s Hindi news channel Aaj Tak has declined by over 19 per cent to 429,900 weekly impressions in the current week as compared to 532,102 in week 12. The channel reported the best numbers in terms of viewership in the last week.

    However, the channel has seen maximum growth among all national genre leaders, as it grew by around 300 per cent, on average impressions of the week 1 -11 as against the average of week 12-13.

    Retaining its second position for a second consecutive week, ABP News Network’s Hindi news channel ABP News has also dropped marginally by over 8 per cent to 311,382 weekly impressions in week 13 as against 340,659 in the previous week. For the first time ever, the channel has posted its best weekly viewership numbers in week 12 of BARC.

    Zee Entertainment Enterprises’ Hindi news channel Zee News has maintained its third spot in the current week too; however, it has fallen by 11 per cent in terms of viewership. The channel garnered 300,324 weekly impressions in week 13 as compared to 337,359 impressions in the previous week.

    India TV has secured the fourth spot. Despite moving one rank up from the previous, the channel marginally declined by around five per cent to 282,228 impressions in week 13 versus 296,305 impressions in week 12.

    Struggling to make a place in the top five news channels’ list for the last two weeks, Republic Media Network’s Hindi news channel Republic Bharat has secured the fifth spot with 280,219 weekly impressions. The channel has always been featured in the top five channels' list in the urban segment HSM.

    Where all other channels declined marginally in week 13, Republic Media Network’s English news channel Republic TV has gained by over six per cent to 2082 weekly impressions in the current week as compared to 1962 in week 12. The channel has been the leader in terms of viewership for the straight thirteenth week of BARC.

    Retaining its second spot for the thirteenth week in a row, Times News Network’s English News channel Times Now declined by over six per cent to 1284 impressions in the current week as against 1375 impressions in week 12. The channel reported best-ever numbers in term of viewership in the previous week of BARC.

    TV Today Network’s English news channel India Today has dipped by 0.7 percent in terms of viewership in week 13. Maintaining its third spot, the channel garnered 1182 weekly impressions in week 13 as compared to 1190 impressions in the earlier week of BARC.

    In the megacities category, India Today has become the most-watched with number one rank. The channel grew by over 12 per cent to 657,000 impressions in megacities among NCCS 22 plus Male AB in week 13 as compared to 583,000 impressions in the last week.

    Similarly, Network18’s English news channel CNN-News18 has retained its fourth spot in the list for the third consecutive week of BARC. The channel slumped than its peers by over 23 per cent to 653 weekly impressions in week 13 as against 848 impressions in the previous week.

    Featuring for the very first time in the top five English news channel’s list so far this year, Zee Media’s international news channel has secured the fifth spot. The channel has gained at least 623 weekly impressions in week 13, little less than CNN-News18.

    According to a joint report released by BARC and Nielsen India on the crisis consumption – the impact of COVID-19, the overall news broadcasters grew by over 250 per cent in terms of viewership in week 13 as compared to combined week two and four of BARC.

  • ZEEL unveils marketing, promotion and distribution strategies for Zee Biskope

    ZEEL unveils marketing, promotion and distribution strategies for Zee Biskope

    MUMBAI: Zee Entertainment Enterprises Ltd has a new ambitious member joining it's cluster – the upcoming 24-hour dedicated Bhojpuri movie channel Zee Biskope. The channel will be rolled out on the auspicious day of Sankranti, 14 January 2020.

    ZEEL aims to brand the channel on the popularity of three Bhojpuri stars — Nirahua, Pawan Singh and Khesari Lal Yadav. “These three stars are the glue between the audience and the Bhojpuri film industry and there’s crazy love for a hero in the region,” ZEEL’s business head of Zee Biskope and Ganga Amarpreet Saini said while speaking to Indiantelevision.com.

    He added, “As the face of the brand these three stars are definitely going to generate a lot of connection. We will also be broadcasting movies wherein these heroes are more associated with people, which is the bigger phase of the marketing campaign.”

    Expanding its regional footprint, Zee Biskope is an additional channel in the movie segment, along with the existing general entertainment channel (GEC) — Big Ganga in Bhojpuri market.

    As a part of marketing strategy, the broadcaster will have movie screening of 2019 blockbusters in the largest hall in Patna on 18 January 2020. The event will witness the attendance of these three Khans of Bhojpuri, along with media, distributors and of course audience.

    Meanwhile, the business head of Zee Biskope and Ganga laying out the further marketing plan stated: “The brand will also have two animated mascots called Bhaiyaji and Gamchaji, discussing the new releases, television premieres, and interactions with the audience and stars of the Bhojpuri industry.”

    ZEEL being the largest entertainment network, Saini said, “We will leverage the strength of our network as a primary source of driving awareness about the channel. We also have our established brands in Uttar Pradesh (UP), Bihar and Jharkhand. We will also leverage their strengths to create awareness.”

    He went on to explain that if need be for incremental and additional reach beyond our network, they would consider some non-network channels to promote the movie channel. This option will only be attempted post exhausting our network’s strength.

    The Bhojpuri movie channel will also be promoted on all possible platforms, including digital, television along with on-ground initiatives and activities to create a tangible relationship with viewers.

    Zee Biskope would be a paid channel available on all cable and DTH services at Rs 0.10 per month, Saini said.

    Meanwhile, ZEEL’s cluster business – east Samrat Ghosh said, “Unlike regional markets, Bhojpuri television market is apparently very new and the majority of advertisers would be national players. Local advertisers couldn’t afford national channel because of price sensitivity.”

    Ghosh said that with an increase in viewers’ traction, the eyeballs are gradually shifting to Bhojpuri market wherein local advertisers also see a lot of mileage in advertising their products. He further added that local advertisers are at a negligible level compared to national advertisers.

    Ghosh also said that the channel is on the verge of signing new national advertisers, along with existing associations with different brands.

    With the tag line ‘AathonPahariya Luta Lahariya’ (enjoy Bhojpuri entertainment throughout the day), the channel’s philosophy is to allow viewers to rejoice Bhojpuriyat 24*7 and efforts have been made to enhance and celebrate this Bhojpuriyat in the best possible ways.

    With over 300 plus library strength, the channel will broadcast exclusive world television premiere movies every weekend, however, a week before television there would be a digital premiere of exclusive movies on ZEE5.

    As the broadcaster’s primary focus is to show authentic Bhojpuri movies on the new channel, Zee Biskope and Ganga’s business head said, “Going forward, we would also broadcast larger-than-life south dubbed movies in Bhojpuri language seeing dubbed movies traction in this market.”

    Meanwhile, Saini also said, “The idea to offer a movie channel along with the existing GEC channel in the market is to achieve leadership in the Bhojpuri segment.” ZEEL so far is the only broadcaster to provide both GEC and movie channel in this market.

    The last couple of years’ maximum contribution to the rise of the broadcasting industry has come from regional markets. In this regard, ZEEL’s cluster business head said, “We are keen to explore other markets, but to launch a new regional channel or not that depends on a business opportunity.”

  • Zee TV VP marketing Azmat Jagmag quits

    Zee TV VP marketing Azmat Jagmag quits

    MUMBAI: Zee TV’s VP for marketing, Azmat Jagmag, who was responsible for brand building, team growth, sales strategy and revenue facilitation, has quit the organisation last month.

    Jagmag started her career as an account executive at Draft FCB Ulka in 2004 and was there for over a year. Her next move was Zee Entertainment Enterprises Ltd in 2005, where she joined the company as the marketing executive for Zee Cinema.

    She was then elevated as Zee TV AVP marketing position and launched brands that propelled Zee TV to a strong challenger brand. She then became the marketing head at Zee TV.

    Jagmag served the organisation for over a decade and before making a move, she was also held responsible to look after Zee Anmol as the brand marketing head. The channel ruled the roost in terms of reach within three months of launch. Also, the Facebook page showed the highest organic growth of 32 per cent across competition, whereas Twitter base grew by 370 per cent.  

  • ZEE Entertainment Enterprises’ FY2018 Annual Report bags Gold at The LACP’s 2018 Spotlight Awards

    ZEE Entertainment Enterprises’ FY2018 Annual Report bags Gold at The LACP’s 2018 Spotlight Awards

    MUMBAI: In yet another extraordinary win, Zee Entertainment Enterprises Ltd. (ZEEL), the leading media & entertainment powerhouse, has bagged two gold awards for its FY2018 Annual Report at the League of American Communications Professionals’ (LACP) 2018 Spotlight Awards held in Naples, Florida, USA.

    ZEEL’s FY2018 Annual Report titled ‘Experience the Extraordinary’ won gold in the print and online categories, being ranked 35th in world under the online report category, and 64th in the world under the print report category.

    Designed by Synapse, the report reflects the company’s brand ideology of ‘Extraordinary Together’ and ZEEL’s belief in the power of working together, deriving the strength to deliver the exceptional. The motif of the report being Mosaic, an art form made of innumerable elements, each of which is vital to the picture that emerges when they all come together, celebrated ZEEL’s 25 glorious years in shaping the Media & Entertainment landscape in India.

    Commenting on the win, Mr. Bijal Shah, Head – Corporate Strategy and Investor Relations, Zee Entertainment Enterprises Ltd. (ZEEL) said, “As India’s leading entertainment content company celebrating 25 years of entertaining audiences around the world, we wanted this annual report to be special. It was a pleasure working with Synapse to drive creative synergies and deliver a truly extraordinary Annual Report in line with our brand philosophy. It not only highlights our achievements but brings alive our story in an engaging manner.”

    The LACP is an international association that identifies and discusses best-in-class practices within the communications industry while also recognizing those who demonstrate exemplary communications capabilities. LACP’s 2018 Spotlight Awards seeks to identify organizations across the world that have helped create compelling communication collateral for clients. This year LACP drew an unprecedented number of business communication entries from across the world, across industries and organizational sizes.

  • No claim on concept copyright, HC denies relief to Zee in case against Sony

    MUMBAI: The Bombay High Court has not granted relief to Zee Entertainment Enterprises, and dismissed the notice of motion in a commercial suit filed against Sony Pictures, alleging copyright infringement.

    Advocate Ravi Kadam represented Zee, whereas advocate VV Tulzapurkar represented defendant Sony and advocate Janak Dwarkadas appeared for defendant Frames Production.

    Zee had claimed that Sony Pictures Networks India had illegally copied its popular show India’s Best Dramebaaz, a talent hunt programme for child actors. Zee said Sony had infringed its copyright in its ““production bible” and concept note”. The said bible is a document that explains most aspects of production.

    After hearing both parties, Justice GS Patel read out the order. Justice Patel stated, “What Zee needs to be able to show is that there is something in its production bible, concept note or in its show that is utterly and identifiably original and that this has been copied by Sony. Zee must specify what precisely it claims to monopolize.”

    Zee had claimed that Frames had told Zee that it will not be pursuing this idea further. However, when in January 2017, Zee wanted to launch Season 3 of ‘Dramebaaz,’ Frames said they had “sold” the concept to Sony.

    Zee then complained to SPNI. Sony submitted before the court that it is, in fact, developing ‘Sabse Bada Kalakar’, a kids talent hunt programme for which it had its own production bible and concept note.

    Justice Patel finally said: “In my view, the manner in which the selections are made and the trajectories of the two shows are quite distinct. The fact that both feature children, the fact that both seek out children with acting talent, the fact that both seek out children with acting talent, the fact that they seek out children with acting talent from different cities, and the fact that they seek out the best of these is hardly something in which anyone can claim any copyright.”

  • Akash Chawla bids adieu to ZEEL after 12 years

    MUMBAI: Zee Entertainment Enterprises company Zee Studio’s executive vice-president – films, and business head Akash Chawla has resigned after a long stint of 12 years.

    A source close to the network confirmed the news to Indiantelevision.com. In May last year, ZEEL elevated Chawla along with Deepak Rajadhyaksha for key roles in Zee TV to drive the organisational goals.

    In addition to his portfolio as Essel Vision Productions Limited and Zee Studio’s business head, he was given the additional charge as the business head of Zee TV.

    In his earlier broadcasting stint, Chawla successfully spearheaded the marketing function for the flagship and national channels like Zee TV, Zee Cinema and Zee Classic. He also played a pivotal role in the launch of channels such as &pictures, Zee Anmol and Zindagi.

    Chawla joined ZEEL in 2005 as Zee TV brand head where he was in charge of brand strategy and building the brand to be No. 1 in market share and strong in brand equity. Prior to Zee, he worked with TAM as the marketing manager. As a part of the TAM S-Group, he had the responsibility to maximise non-TRP revenue from Mumbai and Delhi.

  • Videocon D2H to merge with Dish TV; serve 28 million subscribers

    Videocon D2H to merge with Dish TV; serve 28 million subscribers

    MUMBAI: The Board of Directors of Dish TV and Videocon d2h Limited today approved a scheme of arrangement for the amalgamation of Vd2h into Dish TV and the execution of definitive agreements in relation to such amalgamation.

    Following the closing of the proposed transaction, the merged entity will be renamed as Dish TV Videocon Limited. Pursuant to the Scheme, Dish TV Videocon shall issue 857.791 million shares as consideration for the scheme and the Vd2h shareholders shall be allotted 2.021 new shares of Dish TV Videocon for every one share held in Vd2h (subject to certain adjustments as set out in the Scheme), which would result in Dish TV shareholders owning 1,066.861 million existing shares or 55.4% of Dish TV Videocon, and Vd2h shareholders owning 857.791 million new shares or 44.6% of Dish TV Videocon.

    The fully diluted share count of Dish TV at 1,066,863,665 shares, which will lead to 857,785,766 shares of Dish TV Videocon being issued to Vd2h shareholders. Exchange ratio rounded off to two decimal places. One Vd2h ADS represents four equity shares of Vd2h.

    Dish TV EBITDA are reported EBITDA figures, while Vd2h EBITDA are reported adjusted EBITDA figures; EBITDA is not a standardized term, hence direct comparison between companies using the same term may not be possible. Other companies may calculate EBITDA differently from Dish TV and Vd2h, limiting their usefulness as comparative measures

    Dish TV Videocon will be led by Jawahar Lal Goel as the chairman and managing director, combining the strength of senior and operating management teams while offering further career growth opportunities for employees of the two merging companies. The Vd2h principals shall have the right to nominate two directors on the Dish TV Videocon Board, one of whom shall be the vice chairman and the other a deputy managing director.

    The proposed transaction is expected to create a leading cable and satellite distribution platform in India. Dish TV Videocon would serve 27.6 million net subscribers in India, as of September 30, 2016, on a pro-forma basis, out of a total of 175 million TV households in India highlighting significant room for growth. The combined entity would have revenue of Rs. 59,158 million and EBITDA2 of Rs. 18,262 million on a pro-forma basis for the fiscal year ended 31 March 2016 positioning it as a leading media company in India. The proposed transaction is expected to provide better synergies and growth opportunities and enable Dish TV Videocon to provide differentiated and superior service to all customers through deeper after-sales, distribution and technology capabilities, and also become a more effective partner for TV content providers in India.

    Goel said: “This transaction, that brings together two powerhouse brands of the cable & satellite Industry in India, will provide us with a gateway to harness growth opportunities in an ultra-competitive multi player environment. This combine will enhance value for all stakeholders – consumers, government, employees and shareholders. Dish TV has been a pioneering and path breaking company which has taken the pain and responsibility of establishing many new processes, like the electronic & digital payments system that were the business need of the initial years and went on to become the industry norm of a dynamic and throbbing Industry. Now we take the next leap in our very exciting and exhilarating journey.”

    Vd2h executive chairman Saurabh Dhoot said: “Today, we are very excited about this strategic combination to create a solid platform with decisive and proven leadership at the front would lead Dish TV Videocon to create value for all stakeholders, our customers, employees, and our shareholders.”

    At the close of the proposed transaction, the current promoters of Dish TV shall continue as promoters of Dish TV Videocon. The Dish TV principals are also in discussion with the Vd2h principals to purchase some of the Vd2h principals’ shares in Dish TV Videocon post the amalgamation, details of which are likely to be finalised soon.

    Upon closing of the proposed transaction, Dish TV Videocon shall continue to be listed on the National Stock Exchange of India and the BSE Limited in India and on the Luxembourg Stock Exchange in the form of GDRs. In the Scheme, holders of Vd2h ADRs will receive their new shares in the form of GDRs, unless they elect to receive and hold new shares directly.

    The proposed transaction remains subject to approvals, including from the Securities and Exchange Board of India, the stock exchanges, shareholders and creditors of both companies, the Competition Commission of India, the High Court of Bombay and the Ministry of Information and Broadcasting. The proposed transaction is expected to close in the second half of 2017.

    Morgan Stanley is acting as the exclusive financial advisor to Dish TV, and YES Securities (India) Limited is acting as the lead financial advisor to Vd2h. The other advisors involved are — EY, SR Batliboi & Co. LLP, Luthra & Luthra Law Offices for Dish TV, and KPMG, Shardul Amarchand Mangaldas & Co., and Edelweiss Capital for Vd2h. Shearman & Sterling is acting as international legal advisor to both Dish TV and Vd2h in respect of the, US federal securities law and related aspects of the proposed transaction.

    The new shares of Dish TV Videocon to be issued pursuant to the Scheme have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. New shares of Dish TV Videocon to be issued pursuant to the Scheme will be issued pursuant to the exemption from registration provided by Section 3(a)(10) under the Securities Act.

    Neither the SEC nor any U.S. state securities commission has approved or disapproved of the new shares of Dish TV Videocon to be issued pursuant to the Scheme, or determined if this announcement is accurate or complete. Any representation to the contrary is a criminal offence in the United States.

    Dish TV and Vd2h are incorporated under the laws of India. In addition, most their respective officers and directors reside outside the United States, and some or all of their assets are or may be located in jurisdictions outside the United States.

  • Videocon D2H to merge with Dish TV; serve 28 million subscribers

    Videocon D2H to merge with Dish TV; serve 28 million subscribers

    MUMBAI: The Board of Directors of Dish TV and Videocon d2h Limited today approved a scheme of arrangement for the amalgamation of Vd2h into Dish TV and the execution of definitive agreements in relation to such amalgamation.

    Following the closing of the proposed transaction, the merged entity will be renamed as Dish TV Videocon Limited. Pursuant to the Scheme, Dish TV Videocon shall issue 857.791 million shares as consideration for the scheme and the Vd2h shareholders shall be allotted 2.021 new shares of Dish TV Videocon for every one share held in Vd2h (subject to certain adjustments as set out in the Scheme), which would result in Dish TV shareholders owning 1,066.861 million existing shares or 55.4% of Dish TV Videocon, and Vd2h shareholders owning 857.791 million new shares or 44.6% of Dish TV Videocon.

    The fully diluted share count of Dish TV at 1,066,863,665 shares, which will lead to 857,785,766 shares of Dish TV Videocon being issued to Vd2h shareholders. Exchange ratio rounded off to two decimal places. One Vd2h ADS represents four equity shares of Vd2h.

    Dish TV EBITDA are reported EBITDA figures, while Vd2h EBITDA are reported adjusted EBITDA figures; EBITDA is not a standardized term, hence direct comparison between companies using the same term may not be possible. Other companies may calculate EBITDA differently from Dish TV and Vd2h, limiting their usefulness as comparative measures

    Dish TV Videocon will be led by Jawahar Lal Goel as the chairman and managing director, combining the strength of senior and operating management teams while offering further career growth opportunities for employees of the two merging companies. The Vd2h principals shall have the right to nominate two directors on the Dish TV Videocon Board, one of whom shall be the vice chairman and the other a deputy managing director.

    The proposed transaction is expected to create a leading cable and satellite distribution platform in India. Dish TV Videocon would serve 27.6 million net subscribers in India, as of September 30, 2016, on a pro-forma basis, out of a total of 175 million TV households in India highlighting significant room for growth. The combined entity would have revenue of Rs. 59,158 million and EBITDA2 of Rs. 18,262 million on a pro-forma basis for the fiscal year ended 31 March 2016 positioning it as a leading media company in India. The proposed transaction is expected to provide better synergies and growth opportunities and enable Dish TV Videocon to provide differentiated and superior service to all customers through deeper after-sales, distribution and technology capabilities, and also become a more effective partner for TV content providers in India.

    Goel said: “This transaction, that brings together two powerhouse brands of the cable & satellite Industry in India, will provide us with a gateway to harness growth opportunities in an ultra-competitive multi player environment. This combine will enhance value for all stakeholders – consumers, government, employees and shareholders. Dish TV has been a pioneering and path breaking company which has taken the pain and responsibility of establishing many new processes, like the electronic & digital payments system that were the business need of the initial years and went on to become the industry norm of a dynamic and throbbing Industry. Now we take the next leap in our very exciting and exhilarating journey.”

    Vd2h executive chairman Saurabh Dhoot said: “Today, we are very excited about this strategic combination to create a solid platform with decisive and proven leadership at the front would lead Dish TV Videocon to create value for all stakeholders, our customers, employees, and our shareholders.”

    At the close of the proposed transaction, the current promoters of Dish TV shall continue as promoters of Dish TV Videocon. The Dish TV principals are also in discussion with the Vd2h principals to purchase some of the Vd2h principals’ shares in Dish TV Videocon post the amalgamation, details of which are likely to be finalised soon.

    Upon closing of the proposed transaction, Dish TV Videocon shall continue to be listed on the National Stock Exchange of India and the BSE Limited in India and on the Luxembourg Stock Exchange in the form of GDRs. In the Scheme, holders of Vd2h ADRs will receive their new shares in the form of GDRs, unless they elect to receive and hold new shares directly.

    The proposed transaction remains subject to approvals, including from the Securities and Exchange Board of India, the stock exchanges, shareholders and creditors of both companies, the Competition Commission of India, the High Court of Bombay and the Ministry of Information and Broadcasting. The proposed transaction is expected to close in the second half of 2017.

    Morgan Stanley is acting as the exclusive financial advisor to Dish TV, and YES Securities (India) Limited is acting as the lead financial advisor to Vd2h. The other advisors involved are — EY, SR Batliboi & Co. LLP, Luthra & Luthra Law Offices for Dish TV, and KPMG, Shardul Amarchand Mangaldas & Co., and Edelweiss Capital for Vd2h. Shearman & Sterling is acting as international legal advisor to both Dish TV and Vd2h in respect of the, US federal securities law and related aspects of the proposed transaction.

    The new shares of Dish TV Videocon to be issued pursuant to the Scheme have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. New shares of Dish TV Videocon to be issued pursuant to the Scheme will be issued pursuant to the exemption from registration provided by Section 3(a)(10) under the Securities Act.

    Neither the SEC nor any U.S. state securities commission has approved or disapproved of the new shares of Dish TV Videocon to be issued pursuant to the Scheme, or determined if this announcement is accurate or complete. Any representation to the contrary is a criminal offence in the United States.

    Dish TV and Vd2h are incorporated under the laws of India. In addition, most their respective officers and directors reside outside the United States, and some or all of their assets are or may be located in jurisdictions outside the United States.