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.
The highest bid was raised by Mag Entertainmen 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, Pakistan Electronic Media Regulatory Authority (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 mid night crossed the figure of Rs 4 billion and still higher offers were coming.
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.