Dish TV increases stake in C&S Medianet to 51%
MUMBAI: Direct to home (DTH) operator Dish TV has increased its stake in C&S Medianet to 51% during the fiscal ended 31st March 2019. C&S Medianet is a joint venture (JV) between Dish TV and Siti Networks. Initially, both Dish TV and Siti held 48% each in the company.
Dish TV has increased its stake by acquiring 300 equity shares in the company fair market value of Rs. 10 per share. The company also said that it has acquired substantial control over the erstwhile JV.
“During the year ended 31 March 2019, the Company has increased its Investment stake in C&S Medianet Private Limited, erstwhile joint venture, from 48% to 51% by acquiring 300 equity shares at fair market value of Rs. 10 per share and acquired substantial control over the erstwhile joint venture,” Dish TV said in its filing to the BSE.
The company further stated that the financial results of C&S Medianet have been consolidated in accordance with Ind AS 110 to prepare the consolidated financial results of the company.
C&S Medianet was incorporated on 5th May 2016 with an initial paid-up capital of Rs 100,000.
The company acts as a knowledge centre for the distribution industry by assisting them in various business facets including packaging, content acquisition, and regulatory interaction.
The company had commenced its operations in January 2018. In its first major initiative, the company had helped Dish TV India, Videocon d2h and Siti Networks to conclude the interconnection agreement with Discovery Communications India.
With the conclusion of the arrangement, the company’s Hindi erstwhile GEC Discovery Jeet was prominently placed on all the three platforms.
C&S Medianet, which aims to provide consultancy services to the distribution platform operators (DPOs) in order to help them tackle the issues faced by the distribution industry, is headed by industry veterans Himanshu Dhoreliya and Anil Malhotra.
The company aims to provide consultancy services including knowledge sharing on packaging, increase of a-la-carte revenue, dispute management, regulatory intervention & compliance, collection & sharing of data, engaging with government for giving ads to the members, engaging with DAVP for formulation of the policies, assistance in ensuring compliance with QoS Regulation, assisting in implementation of TRAI Regulations & Support in audits, ad sales service and value-added service.