MUMBAI: Direct to home (DTH) company Videocon d2h has named Saurabh Dhoot as executive chairman.
In this newly created position as executive chairman, Dhoot will continue to build the Videocon d2h brand and business model, overseeing all operations and strategic direction for the satellite Pay-TV provider, which has amassed more than 13 million digital subscribers since it launched in 2009.
Based in Mumbai, Dhoot joined Videocon d2h at its inception, serving as executive director.
In this position, he was responsible for overseeing the launch of the Pay-TV service and the initial $650 million investment. Through Dhoot's leadership, Videocon d2h has achieved many "firsts" in the Indian DTH industry like the launch of 4K Ultra HD channel, the 1000 GB High Definition Digital Video Recorder, Wireless DTH headphones and Radio Frequency DTH Remote amongst others.
“I take great pride in all the success we've enjoyed at Videocon d2h, and I feel even more excited about what our terrific team and I will accomplish going forward. With 100 million homes expected to be digitalized in the next five years, Videocon d2h will play a leading role in the 'Digital India' campaign. We will continue to bring unique content, new mediums of delivery and innovative services to our consumers. With our new capital infusion from the US, it is time to begin the next wave of exciting growth and expansion,” said Dhoot
In April 2015, Videocon d2h became the first Indian communications and media company to be listed on the NASDAQ stock market. With this IPO, Videocon d2h is now the most valued Indian company on NASDAQ at a market capitalization of $1.2 billion.
Media investors Harry Sloan and Jeff Sagansky of Silver Eagle Acquisition Corp engineered the IPO. Silver Eagle contributed its $325 million cash, before payment for transaction expenses and warrant repurchases, and the Silver Eagle shareholders now own approximately 38 per cent of the equity in Videocon d2h.
“We have been impressed with both Videocon d2h's rise in India's DTH market and Saurabh's talent, energy and vision in leading that charge,” Sloan said.
Sagansky added, “Videocon d2h is poised for growth, whether launching new dedicated channels and Services or increasing the level of advertising revenues. Under Saurabh's guidance, the company is well positioned to maintain and expand its commanding market share.”
