Television
Report on Shemaroo

Sun fixes share swap ratio of Gemini, Udaya merger

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/06/07/Suntv.jpg?itok=2e3z0Dzk

MUMBAI: Sun TV Ltd. has approved the share swap ratio for the merger of Gemini TV Pvt. Ltd. and Udaya TV Pvt. Ltd. with itself. The shareholders of Gemini will get 1.78 shares of Sun TV for every one share held. Gemini posted a revenue of Rs 1.75 billion and a net profit of Rs 451 million for the year ended 31 March 2006. The company owns Gemini TV, Teja TV, Gemini News, Gemini Music and Gemini Cable Vision.

Udaya shareholders will get 19.72 shares of Sun TV for every one share held. Udaya revenues for the last fiscal stood at Rs 943 million while net profit was at Rs 253 million. The company owns four television channels, Udaya TV, Udaya Movies, Udaya Varthegalu and Udaya TV II. All the divisions of Udaya, except the FM radio division, will be merged with Sun TV Ltd.

Sun will issue a total of 17.8 million shares to Gemini shareholders and 11.8 million shares to Udaya shareholders. On completion of the merger, the company is proposed to be renamed as Sun TV Network Ltd.

"After the proposed amalgamation and merger, the outstanding equity share capital of the company will increase from 68,889,155 to 98,521,155 equity shares of Rs 10/- each. The additional 29,632,000 shares proposed to be issued will constitute 30 per cent of the enlarged equity capital of the company," Sun TV said in a statement.

The board of Sun took on record the suggestions made by Enam Financial Consultants and DSP Merrill Lynch and approved the valuation report submitted by the independent chartered accountant N Subramanian.

"Sun, Gemini and Udaya boards have approved the Scheme of Arrangement which governs the above amalgamation and merger," the company said.

The merger, however, is subject to final approval by shareholders, creditors and the High Court.

With the merger, Sun will increase the number of television channels in its bouquet from six to 15. "The proposed amalgamation and merger will enable us to build a dominant presence in entire south India, and emerge as one of the largest and most profitable television broadcasters in India," Sun said.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/09/reop4.jpg?itok=NahSOS8h
Republic rolls out new mobile news website

KOLKATA: Republic Media Network has now rolled out a new, game-changing and disruptive mobile news website. The rollout marks the Network’s successful implementation of the first phase of remodeling and redefining the digital news space. The all-new Republic World experience on mobile comes just...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/09/zee.jpg?itok=wqN-SKfZ
Zee Telugu to celebrate Mahashivratri with ‘Maharudram Mahashivam’ and ‘Uma Maheshwaram Kalyanam’

MUMBAI: Zee Telugu  is set to offer its viewers a unique, spiritual experience on the auspicious day of Mahashivratri this year. The channel is thrilled to telecast relevant ambitious content with Shivathatvam in Arogyame Mahayogam at 8:30 AM on 11 March followed by Maharudram Mahashivam starting...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/09/kanna.jpg?itok=am8tsZFy
Zee Kannada’s Sathya meets real-life Sathya characters of Karnataka this International Women’s Day

MUMBAI: Every year International Women’s Day is observed on 8 March to celebrate women, their rights and their achievements. This year, Zee Kannada pledges unique women of Karnataka on this honor. Sathya, the most rated show in the regional television market along with being one of Zee Kannada’s...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/09/times.jpg?itok=vIqGY0Hf
Times Now announces special programming for assembly elections 2021

MUMBAI: Times Now has announced an unmatched programming line-up for the upcoming assembly elections under Mandate 2021. With its special programming, Times Now, India's election news headquarters will once again be at the forefront of election news coverage tracking the state assembly elections of...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/08/tapsee.jpg?itok=4zS2EevL
This Women’s Day #ChooseToChallenge say Taapsee Pannu and Mithali Raj

MUMBAI: Two of the most inspiring icons of Bollywood and Cricket, Taapsee Pannu and Mithali Raj, have come together to share the important message of challenging conventions on international women’s day. With Taapsee all geared up to play Mithali on the silver screen in Viacom18 Studio’s upcoming...

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/08/goole.jpg?itok=WxX0YXbW
Google pledges $25 million to empower women and girls

NEW DELHI: In a blog post timed for International Women’s Day, Google has put out a call for applications for charitable initiatives focusing on anything from “barriers to economic equality” to “cultivating entrepreneurship.” The tech giant announced a range of programs as well as grants worth $25...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/08/ormax.jpg?itok=5vCFkaXz
Only 8% HOD positions in Indian films in 2019-20 were held by women: Ormax Media Report

MUMBAI: On the occasion of International Women’s Day (8 March ) this year, media consulting firm Ormax Media and entertainment platform Film Companion have released a report on representation of women in Indian films, titled O Womaniya! 2021. This first-of-its-kind report will be an annual...

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/08/disney.jpg?itok=0Susnlhi
Star & Disney India deepens focus on women and LGBTQ+ community

MUMBAI: Star & Disney India have introduced Business Employee Resource Groups (BERGs), a new diversity resource group for women and LGBTQ+ employees to foster an equal, inclusive, and bias-free workplace. These groups will represent and support the diverse communities that make up the workforce...

Television TV Channels Kids
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/03/08/bbv.jpg?itok=dlWLPkUd
Sony BBC Earth gears up for launch of ‘A Perfect Planet’

MUMBAI: In Sir David Attenborough’s words –“This is the most important story of our time.”

Television TV Channels News Broadcasting

Sign up for our Newsletter

subscribe for latest stories

* indicates required