Dhoots, the promoter of picture tube maker Videocon, is reportedly to sell its minority holding in Bharat Broadcasting Corporation, which runs the Videocon d2h direct to home (DTH) satellite TV service in India.
The company is talking to private equity funds, including Apollo Global Management, which invested US$100 million in rival DTH operator Dish TV India in 2009 - according to the Financial Express.
Videocon d2h is one of six private DTH operators in India, alongside the Zee-owned Dish TV; Tata Sky, a joint venture between Tata Group and Rupert Murdoch's Sky; Airtel Digital TV, owned by India's largest mobile company; Sun Direct, owned by the southern media group Sun TV; and Reliance Digital, run by the Reliance-Anil Dhirubhai Ambani Group.
India's state broadcaster Doordarshan also operates a free to air DTH service, DD Direct.
Between them, India's DTH operators are expected to serve 45 million homes by 2014 and 58 million by 2020, according to Media Partners Asia.