The Hindu Business Line : Malaysia's Astro eyes Indian DTH market in tie-up with Sun TV

KUALA LUMPUR: Malaysian pay TV operator Astro All Asia Networks plc, owned by the country's richest man, Mr Ananda Krishnan, is eyeing entry into the Indian Direct to Home (DTH) satellite television market through an alliance with the Mr Kalanidhi Maran promoted Sun TV group.

Astro said in a regulatory filing with Malaysian Stock Exchange, Bursa Malaysia that Sun Direct TV Pvt Ltd has applied to the relevant Indian authorities, which would allow it to invest in the company. However, the company said that no agreement has been reached so far with any party in this regard.

There have been reports in the Malaysian and foreign media about Malaysia-based South Asia Entertainment Holding Ltd (SAEHL) picking up a 20 per cent stake in Sun Direct TV, which holds a DTH TV licence in India.

SAEHL is a wholly owned subsidiary of Astro Overseas Ltd, which in turn is a wholly owned subsidiary of Astro.

Astro said in the filing: "Consistent with our long stated goal to invest in complementary regional markets, the company continues to evaluate a number of opportunities in quality pay television and other media assets throughout Asia, including India."

Astro is owned by billionaire tycoon Mr Tatparanandam Ananda Krishnan, who has been named Malaysia's richest and Southeast Asia's second richest man by the Forbes magazine.

Mr Krishnan's business empire also includes telecom major Maxis, besides the country's only DTH satellite service provider Astro. - PTI

Prev: Reliance to offer STD calls at Rs 1.20/min
Next: Subex Azure to buy Canada's Syndesis

Business Line | NUS Index |

In Focus

Infrastructure woes stare IT sector

IPO Scams

FDI in retail sector

Dynamic Tirupur

Gold scaling new highs

In Depth

Tax Talk