Dish TV Rs.1000-Crore rights issue critical for survival, says Official

The rights issue of Dish TV is critical for the survival of the company that needs funds to upgrade technology and replace old set-top boxes with the new-age smart connected boxes otherwise its subscriber base would shrink, a top company official said.    

 Dish TV is facing cut throat competition from the rapid growth of new distribution platforms like “Over the Top” (OTT) and increased penetration of the free DTH platform of public broadcaster Doordarshan, and needs funds to upgrade and convert all its existing STB into smart boxes offering multiple services, the official, who wished not to be named, said.

Terming it as "reality", the official said rivals such as TataSky and Airtel have already taken a march over it by providing android operated new-age STB, which enables subscribers to watch both live TV and OTT content on one device, without switching between multiple HDMI ports. "To change all the existing boxes ... requires a high subsidy," said the top Dish TV official adding "otherwise our platform would start shrinking. We have to spend on the brand building also." Yes Bank Ltd, which holds 25.63 percent equity of Dish TV, is opposing the right issues.

 

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