PEMRA auctions three DTH licenses for Rs 14.69 billion
The highest bid was raised by Mag Entertainment, which exceeded for more than four billion rupees, followed by M/s. Shahzad Sky and M/s. Startime respectively
November 24, 2016
ISLAMABAD: After 15 hours of bidding, three Direct to Home Service (DTH) licenses of Pakistan Electronic Media Regulatory Authority were auctioned in the early hours of Thursday.
“All the three licenses were sold for Rs 14.69 billion,” informed Chairman PEMRA Absar Alam, while speaking to the press.
PEMRA receives offers for Pakistan's 1st 3 DTH Licenses for Rs.4898 million each from M/s Mag Entertainment, M/s Shahzad Sky & M/s Startimes
— Report PEMRA (@reportpemra) November 24, 2016
The highest bid was raised by Mag Entertainment for Rs 4.91 billion, followed by M/s. Shahzad Sky for Rs 4.90 billion and M/s. Star time for Rs 4.89 billion respectively.
Licenses to the bid winners would be awarded after clearance from the interior ministry and law enforcement agencies.
Earlier, after getting conditional permission from the Supreme Court, PEMRA on Wednesday started auction process of first three licenses for the direct to home (DTH) service.
The bidding started from Rs 200 million and at midnight crossed the figure of Rs 4 billion .
Out of twelve short-listed companies, eleven participated in the bidding process while Mastro Commissions failed to appear for the bidding.
The companies participating in the auction include Mag Entertainment Lahore, Sardar Builders Islamabad, Smartimes Islamabad, Smart Sky Islamabad, Orient Electronics Lahore, IQ Communion Karachi, Shahzad Sky Islamabad, Skyflix Islamabad, HB DTH Islamabad, Naya Tel Islamabad and Parus Media and Broadcast Islamabad.
