Tony D�۪Silva, Executive Vice-president, Distribution, STAR TV, has quit. He is joining Kalanidhi Maran’s direct-to-home (DTH) venture Sun Direct as CEO. Senior sources in Sun TV confirmed the development.
D’Silva, an old hand in the distribution business, joined STAR in 2002. Prior to STAR, he was President – International Business, ZEE Network.
The Sun TV group has forged a joint venture with the Malaysia-based Astro All-Asia Network Plc to provide DTH services in India. The joint venture�۪s peak funding is estimated to be $ 670 million and will be incurred over the first five years of operations, through a mix of equity and debt capital. The annual cash flow is expected to become positive in the sixth year of operations.