Breaking News Veecon Media acquires Reliance Big TV

[adithya]

NEW DELHI: Reliance Communications said that it has entered into binding Memorandum Of Understanding with Veecon Media and Television Limited, for sale of its subsidiary Reliance BIG TV Limited (RBTV), engaged in the business of Direct to Home (DTH) services across India.

Pursuant to the transaction, the buyer will acquire the entire shareholding of RBTV with business on “as-is where-is” basis, along with all existing trade liabilities and contingent liabilities.

The existing DTH license of BIG TV shall be renewed with the submission of the required Bank Guarantees with the Ministry of Information and Broadcasting by the buyer.

The transaction ensures that all existing 1.2 Million customers of RBTV shall continue to enjoy uninterrupted services. It also ensures the continuity of employment for approximately 500 employees of RBTV.

The transaction will help reduce the liability of unsecured creditors, benefitting all stakeholders including lenders and shareholders of RCOM.

The transaction is in consonance with the RCOM’s stated objective to focus on B2B businesses of New RCOM.

The successful culmination of the transaction is subject to the requisite approvals from licensors, regulatory authorities and lenders of RCOM.

RCom to sell 100% equity in DTH biz to Veecon Media, Telecom News, ET Telecom

 

[Technoglitch]

so this ensures that big tv would go on under a new name with full revamped mode ?

 

[adithya]

so this ensures that big tv would go on under a new name with full revamped mode ?

Lets see what happens

 

[Technoglitch]

Lets see what happens

if not i would not call airtel now,,given hope on TS

 

[DashMajor]

Why the hell Veecon bought it now ?

 

[Technoglitch]

the website is not working and how would these guys maintain dth, it seems like company is being transferred from one garbage to another one,
HugeDomains.com - VeEconMedia.com is for sale (Ve Econ Media)

 

[adithya]

Dear Subscriber

We Are Happy to Announce That We Have Decided To Renew Our :License.
All Our Services Will Continue Un-Interrupted And For You Convenience Contact Centers Will Be Restored.

Thank You For Patronage

 

[Technoglitch]

So here comes the confirmation and hope to see an healthy competition

 

[Coolblue0055]

They are selling it to Veecon media.

RCom to sell 100% equity in DTH biz to Veecon Media, Telecom News, ET Telecom

 

[Anish Pai]

First they say, we are not renewing our license, and ask users to switch to other DTH services.

Now, they say they are not shutting down and will continue. So haven't they gone back on their words.
There were some RDTV users who didnt want to change as they were happy with them, but were forced to change as they were closing down, now what ???

Also a non DTH company is acquiring them, and we all know that a non DTH company who doesnt know the industry will not be easy to run the company.