Television

Gemini, Udaya to be merged into Sun?

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/07/23/SunTV%20Network.jpg?itok=oZHN-M84

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

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/amit.jpg?itok=hlHHnJTF
71% Indians trust their news sources, survey reveals

KOLKATA: According to the global survey by The Trust Project and Ipsos titled ‘Trust Misplaced?’, 71 per cent urban Indians and 64 per cent global citizens believe they have easy access to news from sources they trust. At least six in 10 urban Indians (59 per cent) say they read news they can...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/barc.jpg?itok=qgM0b60r
BARC week 46: Sony Sab replaces Colors in urban market

MUMBAI: Sony Sab has replaced Colors on second spot in the urban market in week 46 (Saturday, 14 November 2020 to Friday, 20 November 2020) of Broadcast Audience Research Council of India (BARC) data. Dangal has slipped down to ninth place on pay platform.  Pay Platform

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/zee.jpg?itok=26_yeHJ5
Zee Telugu to premiere emotional thriller Penguin

MUMBAI: Prepare for goosebumps this Sunday evening as Zee Telugu will take you on a chilling journey with the world television premiere of the emotional thriller movie Penguin. Set in the sylvan surroundings of Kodaikanal, the film sketches the trauma of a mother and the lost son who is trying to...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/cnn.jpg?itok=GXTaNGr8
CNN International to broadcast Turner Sports’ exclusive presentation of Capital One’s The Match: Champions for Change

Turner Sports will present Capital One’s The Match: Champions for Change, a premier golf event with the World Golf Hall of Famer and crossover legends competing – Phil Mickelson, Charles Barkley, Stephen Curry and Peyton Manning.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/mn.jpg?itok=seJMjnc4
MN+ & Romedy NOW to simulcast Indian television premiere of Little Women

MUMBAI: Offering best of Hollywood movies to its viewers, MN+ and Romedy Now is all set to simulcast the Indian television premiere of Little Women, on 29 November, at 1:00 PM and 9:00 PM. An adaptation of Louisa May Alcott's 1868-69 two-volume novel of the same name, Little Women is a modern...

Television TV Channels English Entertainment
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/tweet_0.jpg?itok=48kEMtFi
CNBC-TV18 Storyboard, Twitter come together to show #BestofTweets

NEW DELHI: CNBC-TV18’s Storyboard has partnered with Twitter to launch a special series, #BestofTweets, to offer much-needed brand insights and momentum during these times.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/mah.jpg?itok=ovf7zH7M
Dangal to tap its regional channels for Prem Bandhan promotions

Hindi GEC Dangal TV, a part of Enterr10 Television, is all set to entertain viewers with its latest offering, Prem Bandhan. Produced by Balaji Telefilms, the show stars Chhavi Pandey and Manit Joura as the protagonists.

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/25/barc.jpg?itok=5LYQzb_l
Screentime of sports celebrities grew in IPL 13 ads, says BARC

MUMBAI: IPL 13 was the much-needed break that enlivened Indian audiences from the Covid2019 pandemic-induced gloom. While the tournament was played in the UAE, it saw scores of brands advertising during the game to reach out to their audiences. This year, the league clocked over 400 billion viewing...

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/25/ipl.jpg?itok=1NImH8wc
IPL has 86 million fans in India: Ormax Media study

MUMBAI: Chennai Super Kings (CSK) is the IPL team with the biggest and most hardcore fanbase, a study by Ormax Media has revealed. With 26.8 million fans, the MS Dhoni-led CSK has emerged as the strongest franchise, as per the findings of the IPL Franchise Fans report, based on a research conducted...

Television TV Channels Sports

Sign up for our Newsletter

subscribe for latest stories

* indicates required