Television

Gemini, Udaya to be merged into Sun?

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/07/23/SunTV%20Network.jpg?itok=O6tM5Lu1

MUMBAI : The market is expecting founder-promoter Kalanithi Maran to merge the affiliate companies, Udaya TV Pvt Ltd and Gemini TV Pvt Ltd, where he has significant equity interests, with Sun TV Ltd.

Maran had early this year raised Rs 6.03 billion through a public float of Sun TV which included the Tamil and Malayalam channels. But he kept his popular channels in Telugu and Kannada outside the ambit of the initial public offering (IPO) as they were under separate entities and had other minority stakeholders.
The speculation in stock trading circles is that the decision would soon be taken to merge the two profit-making companies with Sun TV, offering investors a width of strong channels across the four southern states of Tamil Nadu, Andhra Pradesh, Karnataka and Kerala.

The rumour comes at a time when Sun TV has made an announcement in the BSE that its board would be meeting on 27 November to "consider the proposed merger of satellite television broadcasting companies."

The stock would see a sigificant boost if "these rumours" turn out to be true. "The valuation of the company will shoot up if Gemini and Udaya are merged with Sun. It is not only the topline which will inflate but the bottomline will also continue to be strong," stock market analysts say.

Indiantelevision.com's attempt to reach senior executives in Sun TV to get an official confirmation proved futile. Maran was also not available for comment.

The equity shares of Udaya TV, as of 7 March 2006, are held by Maran (66.67), S. Selvam (16.67 per cent) and S Selvi (16.66 per cent). In Gemini, Maran has 26.5 per cent, Kal Communication (a promoter Group company), 23.5 per cent, K Bharathi 30 per cent, Indira Anand 16 per cent and A Sai Siva Jyoti 4 per cent.

Before going for an IPO, Maran consolidated his ownership position by buying out entire stakes of Sharad Kumar and Dayalu Ammal (wife of DMK president M Karunanidhi). Analysts say he will try to do the same thing by buying out the minor partners in Gemini and Udaya before he decides to merge these two companies with Sun TV.

"We don't know if he also already bought out the stakes. If he has, the path is clear for him to go ahead with the merger," an analyst in a brokering firm says.

What is further fuelling the speculation is that Maran has recently consolidated the Telugu and Kannada channels under the Gemini and Udaya brands respectively. Teja News has been renamed Gemini News and Aditya TV as Gemini Music. Ushe TV, similarly, is now called Udaya Movies.

Gemini and Udaya already share a business relationship with Sun TV Ltd. For instance, the approvals for uplinking Udaya News, Ushe TV, Aditya TV and Teja News have been granted in the name of Sun TV Ltd.

Maran also has the option of consolidating Gemini and Udaya's financials and taking them for an IPO. "This, however, is not what the market is expecting. We believe these two companies will merge with Sun TV to create a media behemoth," analysts say.

The Sun TV scrip opened the trading day at Rs 1361.55, reached a high of Rs 1389 and closed at Rs 1363.85.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/Julia-Phelps.jpg?itok=E9GpScQg
Viacom names Julia Phelps as SVP comm & culture

Viacom Inc. has announced that Julia Phelps has been promoted to Senior Vice President, Communications & Culture. In the newly created role, Phelps will serve on the company’s senior executive team and lead corporate communications, corporate marketing and culture. Most recently, Phelps led...

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/Banatwalla-Shah-Hota_0.jpg?itok=39m1PqgF
Star World: Banatwalla, Shah, Hota & Prasad to battle it out in 'Game of Thrones' debate

MUMBAI: With season 7 set to launch soon, Game of Thrones fever has gripped the world yet again with fans speculating to see who will win the Iron Throne and who will die trying. Adding to this electrifying atmosphere, the country’s leading English entertainment channel, Star World will be hosting...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/Sinclair_1.jpg?itok=N-JSCtdb
Sinclair Broadcast buys Bonten Media in US$ 240m deal

MUMBAI: Sinclair Broadcast Group has announced that it has entered into a definitive agreement to purchase the stock of Bonten Media Group Holdings, and Cunningham Broadcasting Corporation has entered into a definitive agreement to purchase the membership interest of Esteem Broadcasting for an...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/rama%20%281%29.jpg?itok=G_3oexD1
DD ex-presenter Pandey honoured in presence of minister & ex-Prez

Former Doordarshan and All-India Radio news reader and presenter Rama Pandey was conferred with the Vishwa Vageshwari Samman for her immense contribution to the arts in an event in Pune.

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/News18-India.jpg?itok=th-FQ1Fn
Khabar Pakki Hai? verifies viral content on News18 India

MUMBAI: With the exponential growth of social media, innumerable photos, videos and stories are shared every second, but there is no way to check the authenticity of all this content. This results in a lot of misinformation impacting opinion and resultant actions by people believing these false...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/James-Bond.jpg?itok=dVadgBqC
Is Sony Pictures getting a raw deal as studios war over Bond rights?

MUMBAI: Warner Brothers, Sony Pictures, and 20th Century Fox are among the Hollywood studio majors fighting for the rights to distribute 'Bond 25'. Universal Pictures, Times and Annapurna are also warring for the rights to distribute the forthcoming James Bond movie.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/21/net-jeo%20%281%29.jpg?itok=r8uSHhJC
Nat Geo and Farhan team up, inspire 'water footprint' reduction

National Geographic is all set to lead the way in its endeavour to go further as a brand and inspire change.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/21/tv%20%281%29_0.jpg?itok=EDmHRtaI
Star World to host first live GoT debate on Facebook

With season 7 set to launch soon, Game of Thrones fever has gripped the world yet again with fans speculating to see who will win the Iron Throne and who will die trying. Adding to this electrifying atmosphere, Star World will be hosting India’s first LIVE Game of Thrones debate on Facebook to...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/21/carlo%20%281%29.jpg?itok=THZGMnZ0
Futureworks implements HDR and ACES

Post-production facility FutureWorks is the first in India to set up HDR (High Definition Range) grading and mastering. The post-production house recently installed Sony’s Flagship HDR Monitor BVM-X300, staying at the forefront of technology and offering the most premium.

Television Production House Post Production

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories