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Shearman, SAM, Luthra create largest Indian media Co with Videocon Dish TV merger

"Direct-to-home television operator Dish TV will merge with Videocon d2h, creating India’s largest media company by sales. Dish TV is the market leader in the DTH space while Videocon is the third largest by subscribers. Their combined sales in FY16 were Rs 5,920 crore, more than Zee Entertainment, which had sales of Rs 5,850 crore. Both Zee and Dish are part of Subhash Chandra’s Essel Group.

The merged entity will be named Dish TV Videocon Ltd. It will operate three brands - Dish TV, Zing and Videocon d2h. The combined subscriber base would be 27.6 million, as of end-September,” reported Business Standard last week.

Shearman & Sterling London M&A partner George Karalotias and associate Cecilia Ferriera and Shardul Amarchand Mangaldas (SAM) partners Gunjan Shah and Shweta Shroff acted for Videocon.

Luthra & Luthra senior partner Mohit Saraf and partners William Vivian John and Vaibhav Kakkar acted for Dish TV.

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