Dish TV on Friday announced its merger with Videocon d2h Ltd. The combined entity, which will be named Dish TV Videocon Ltd, will have 2.76 crore net subscribers, with Dish TV’s Managing Director Jawahar Lal Goel as it chairman and MD, Reuters reported. The new company will have a revenue of about $879.11 million (Rs 5,916 crore).

Shareholders of Dish – India’s first direct-to-home provider – will own 55.4% of the venture, while the remaining stake will go to Videocon’s shareholders, Dish said in a statement. The current promoters of Dish TV will continue as the promoters of the new venture after the deal is finalised. It is expected to be closed in the second half of 2017, provided it gets regulatory approvals.

Dish TV believes the merger will push the cable and satellite TV market in India to 200 million households in the next three years, from the current 145 million households. India currently has seven operators in the DTH industry, including Tata Sky, Reliance Big TV and Airtel Digital TV.