Indian DTH broadcaster Reliance Communications has confirmed it is selling its ‘BIG TV’ pay-TV service to a consortium comprising Pantel Technologies and Veecon Media & TV. The deal was first reported earlier in November.
The final deal, announced November 29th, sees the incoming buyers take on Big TV on an ‘as is’ basis complete with debts and liabilities. They are renewing Big TV’s official operating licenses with India’s Ministry of Information & Broadcasting.
Commercial terms were not released.
Big TV has some 1.2 million DTH subscribers, and services to them will continue without interruption, as will job security for the broadcaster’s 500+ staff.
The deal is subject to regulatory approval.
Pantel is active in the sale of consumer tablet computers and computer accessories. Veecon is best known as the supplier of airport-type security scanners and X-ray systems.