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India’s fast growing – and US-backed – pay-TV broadcaster Videocon d2h say it intends investing as much as $1 billion (€0.89bn) over the next 5 years to boost its position in the Indian market.
Videocon Group chairman Venugopal Dhoot says the company’s $325 million share placing received positive response in the US, leading to greater cash flow into India business. Videcon d2h has recently expanded the number of HDTV channels on offer to 37, with more promised.
Silver Eagle Acquisition, led by harry Sloan and Jeff Sagansky, is backing Videocon and has previously stated that they are building the Indian business to an expected 33 million pay-TV subs over the next 4 years.
Videocon d2h says that it is expecting to wrap the current financial year with an EBITDA of INR8.2 to 8.6 billion. In FY2015, Videocon d2h posted an operating profit of INR6.10 billion. Videocon currently has a net subscriber base of 10.64 million while Average Revenue per User stands at INR205. The company recently said that the new wave of digitisation will help it make profits over the next three months.