Videocon-backed pay-TV operator d2h has entered into an agreement with Silver Eagle Acquisition Corp (SEAC) whereby SEAC will invest $300 million for a 33.5 percent stake in d2h, and valuing d2h at about $900 million, although enterprise value of the broadcaster is said to be about $1.2 billion.

SEAC is backed by serial investors Harry Evans Sloan and Jeff Sagansky, who will join the d2h board. The agreement was made on December 31st.

The SEAC stake pre-empts a planned Bombay IPO for the broadcaster which will still go ahead, with Axis Capital, Edelweiss, ICICI Securities, IDBI Capital, UBS, SBI Capital Markets and Yes Bank have been appointed as joint book runners. The expectation is that $115 million will be raised in the IPO.

The cash injection will be used to pay down debt, and to acquire new set-top boxes.

Videocon d2h carries some 500 channels.

Other posts by :

1. SpaceX: IPO offer in days?
2. New Brittin, new BBC?
3. Forecast: SpaceX tracking to $20bn revenue in 2026
4. EchoStar’s Dish restructures debt obligations
5. AsiaSat hits Zee and JioStar with legal actions
6. Nvidia unveils orbital chip/computer for AI and data
7. Space Sector: ‘Profound Acceleration in 2026’
8. Starcloud wants 88,000 satellites
9. Lynk Global requests “experimental” satellite access

Categories: Articles, Business, Funding, Pay TV