Former MGM chief Harry Sloan and former CBS entertainment president Jeff Sagansky are teaming up with Videocon d2h Limited, one of the fastest growing direct-to-home broadcast providers in India, to create the first U.S.-listed Indian Pay-TV operator.
In exchange for cash, the founders of Silver Eagle Acquisition Corp. will receive new equity shares of Videocon, initially valued at an estimated $303.7 million, representing no less than 33.5 percent of the company’s equity capital.
“We created Silver Eagle for the purpose of finding a fast-growing media opportunity, which is taking full advantage of the digital revolution,” said Sloan. “With almost 10 million digital subscribers, this well-managed company has passed the inflection point to become a leader in India’s explosive television growth.”