DITV's poor execution, governance (aggressive accounting and BS issues) and sharp swings in ARPU has already irked investors. Sharpened focus and tightened execution on subscriber quality is inevitable for sustained re-rating. Our faith has diminished in DITV as its mgmt/promoters have been unable to deliver over a long period. But, possibility of it getting acquired with mgmt change is possible. This is key. Dish TV (DITVs) 4QFY19 was significantly weak. This was led by disruption on account of new tariff order (NTO) implementation. Led by steep price correction, DITV is trading at attractive 5x FY21E EV/EBITDA. BUY with TP of Rs 51 at 7x. Stake sale by promoters for group de-leveraging is key trigger.