RADAG (Reliance Anil Dhirubhai Ambani Group) is consolidating all its media businesses under a single brand - BIG. So you have Big FM, Big Music and now Big DTH. What was earlier Bluemagic is now Big DTH.
For that matter even Tata Sky underwent a couple of changes before arriving at that. BSkyB i think.
Yep, you are correct.
The initial name was Space TV. Once Tata came on board (much to Star's discomfort since they were favouring a 100% venture in the year 1997-98 and the goverment banned Ku band or DTH signal transmission). Don't think if anyone remembers Sky ads beamed on Star TV Network during the late 90s.
Finally Star named it after its sister concern (Sky or rather BSkyB - British Sky Broadcasting) itself along with its joint venture partner name - Tata Sky.
Star's parent company NewsCorp also owns DirecTV in the US.
Both BSkyB and DirecTV are market leaders in their respective markets, due to innovative content, marketing and of course very deep or rather infinite pockets.
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