Sun TV’s merger plan
Sun TV plans to merge satellite television broadcasting companies with itself, according to information provided by the company to the Bombay Stock Exchange. Its board will consider the merger on November 27. When contacted, company officials declined to comment.
There are 20 channels under the Sun Network, some of which, such as Sun TV, Sun News, Sun Music, KTV, Surya and Kiran come under Sun TV Ltd. Some others such as Udaya, Ushe, Adithya and Teja are run by affiliated companies in which "Mr Kalanidhi Maran, Chairman, Sun TV, has a significant equity stake”, according to the draft red herring prospectus of Sun TV. The other channels in the Sun Network are Chutti, Gemini TV, Teja TV, Adithya TV, Teja News, Gemini News, Gemini Music, Gemini Cable Vision, Udaya TV, Ushe TV, Udaya 2, Udaya Movies, Udaya Varthegalu and Udaya News. However, it is not known whether the company plans to merge one of these companies or companies outside the Sun Network.
The Sun TV share closed on Monday on the BSE at Rs 1,363.85, against the previous closing price of Rs 1,361.55 — a rise of 0.17 per cent.
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