Sun will be taking an 80 percent financial stake in Reliance, and full control. A deal is expected in the next few days, and Indian sources say that due diligence has been completed.
Reliance Digital TV was the 5th DTH service to be launched into India’s highly competitive TV market, and has long been seen as a potential merger candidate. Reliance has about 4.6 million subscribers and offers viewers 260 digital channels. Combined the new outfit will have a market-leading 13 million customers, while India’s Number 2 player is Dish TV with 10.7 million subs.
Sun Direct is an 80/20 joint venture between India’s Maran family and Malaysia’s Astro media group.