Reliance Communications to sell its DTH to Veecon Media

On Monday, Reliance Communications Ltd (RCom) said that it has decided to sell its direct-to-home (DTH) business Reliance BIG TV Ltd to Veecon Media and Television Ltd.

As part of the deal, Veecon Media and Television will acquire the entire shareholding of Reliance BIG TV on an ‘as-is where-is’ basis, along with all existing trade liabilities and contingent liabilities, it said

The transaction will help RCom to get rid of its debt, it said in a stock-market disclosure without disclosing financial details.



Following the transaction, around 500 employees of Reliance BIG TV will retain their jobs.

The deal, however, is subject to approvals from licensors, regulatory authorities and lenders of RCom.