Television

Sun TV rises again; seeks board approval for buyback

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2015/10/31/sun%20tv%20network.jpg?itok=uDXbyxYV

MUMBAI: The Sun TV Network stock hit a high of Rs 459 on 20 March, 2015, on the back of good results. But the share starting sliding thereafter and hit a low of Rs 256.05 on 22 July 2015. 

This followed its promoter Kalanithi Maran?s woes with SpiceJet, the Ministry of Home Affairs? denial of security clearance to Sun Network?s 33 channels, the income tax authorities cracking the whip on the 50 year old Maran and his wife Kaveri.

Naysayers and the media said that the two had met their match and they would be forced to sell their holdings in the listed entity and exit the media business. 

Then the government barred the group?s sister company Red FM from taking part in the FM radio phase III auctions.

But lo and behold the husband-wife duo did not take things lying down. Red FM went to the courts, which ruled in the company?s favour and it was permitted to take part in the e-Auctions. 

And the Marans have come back with a vengeance. The first rural + urban BARC ratings saw Sun TV emerging as the highest viewed channel in India. And the company declared healthy results for the second quarter of fiscal 2016. Additionally, the company is sitting on Rs  750 crore in cash.

Now the Sun TV Network has informed the stock exchange that the company is holding a board meeting on 5 November to consider buying back its equity shares from the public. Buying back shares would involve paying cash and annulling them. 

The Marans hold about 75 per cent of the stock and hence may have to tender their some of their holdings to comply with Sebi restrictions. 

It was not clear at the time of writing if the company would go all the way and delist from the stock exchange or whether the buy back is being considered as a sign of the Maran?s confidence about the company?s future and hence boost investor sentiment. 

Meanwhile, the Sun TV shares spurted five per cent on 30 October to close the day at Rs 395.70. It hit an intraday high of Rs 411. 

Watch this space for more news. 

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/tv.jpg?itok=_ddlDW6X
Rural markets drive Hindi GEC FTA channels

Hindi GECs or general entertainment channels draw some of the largest eyeballs across India. “My aim is to get that extra tear from the housewife’s eyes during primetime. I want to keep her riveted to my programmes, to my channel,” the head of a cluster of channels in South India once said.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/ajay.jpg?itok=yWbCSo3N
Sony Marathi banks on fiction to be market leader

Regional is the hot new space for broadcasters and they have taken big bets on vernacular languages to garner higher ratings. Sony Pictures Network India (SPNI), which already has its presence in the Bengali space, saw the potential in Marathi market and made a move to launch its channel on 19...

Television TV Channels Regional
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/zeemedia.jpg?itok=4gQKyVW9
Zee Media gets permission for 4 regional news channels

After a long tenure of being strict in awarding channel licenses, the Ministry of Information and Broadcasting (MIB) has finally become lenient. In the month of September, eight new channels received licenses while none saw their licenses cancelled as on 30 September 2018.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/dlf.jpg?itok=04sbgdDF
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/shemaroo.jpg?itok=97d82QDJ
Relive the Golden days with Shemaroo Entertainment’s “Friday Rewind with RJ Adaa”

Consumers are in for a treat as Shemaroo Entertainment has lined up a new series in association with Adaa, consisting of famous Bollywood songs.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/eros_0.jpg?itok=gtjDHe9Q
Eros International’s Marathi superhit Boyz 2 shines at the box office collecting Rs. 13 crores within 10 days of release

Eros International Media Ltd, a leading global company in the Indian film entertainment industry, has announced a very successful performance of its Marathi release Boyz 2 which has collected Rs. 13 crores within 10 days of its release on 5th October.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/Network18_800.jpg?itok=GFctpNpK
Network18 reports improved numbers for Q2 FY19

Mukesh Dhirubhai Ambani’s media arm, Network18, reported improved numbers for the quarter ended 30 September 2018 (Q2 2019, quarter under review) as compared to the corresponding year ago quarter Q2 2018). The company reported 9 per cent y-o-y growth in consolidated revenue for Q2 2019 at Rs 1,237...

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/media_0.jpg?itok=uJ3zJdcx
ZMCL reports more than quadruple profit for second quarter

The company’s consolidated operating revenue increased 35.5 per cent y-o-y in Q2 2019 at Rs 168.66 crore as compared to Rs 124.51 crore in the year ago quarter. Total income increased 34.7 per cent y-o-y in Q2 2019 to Rs 170.66 crore from Rs 126.71 crore in Q2 2018.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/wire.jpg?itok=rcsQVpJx
Eros Now Partners with Celcom; Consolidates Distribution in Malaysia

Eros International Plc (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that Eros Now, its digital over-the-top distribution service

Television TV Channels Music and Youth

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories