May 21, 2007, 09.37 AM IST | Source: CNBC-TV18

Raj TV sends Rs 10.5-cr invoice to Sun TV

On Friday, Raj TV sent Sun TV a Rs 10.5-crore invoice for unpaid dues for the last one year. Sun Network is slowly starting to feel the heat of breaking away from the DMK party, reports CNBC-TV18.

Raj TV sends Rs 10.5-cr invoice to Sun TV

On Friday, Raj TV sent Sun TV  a Rs 10.5-crore invoice for unpaid dues for the last one year. Sun Network is slowly starting to feel the heat of breaking away from the DMK party, reports CNBC-TV18. 

 

This is considered as something that Raj TV would never have done before the Maran-Karunanidhi split.

 

Sources said that Sun TV has been asked to vacate its headquarters - Anna Arivalayam - that it currently shares with the DMK party.

 

Sources added that Tamil Nadu Chief Minister Karunanidhi's son and political heir, MK Stalin has evinced interest in picking up stake in Raj TV.

 

In fact, Raj TV is now going to restart uplinking from its teleport in Chennai. It had been denied permission to do so in 2004, soon after the UPA government took office.

 

Raj TV had since then been uplinking from Singapore. Raj Music is also staging a comeback, which had gone off air two years ago. On June 23, Raj will also be launching a music-cum-news channel, which is the first of 11 new channels planned.

 

Raj TV has also started buying film rights and getting into the cable distribution business. This was Sun TV's exclusive domain until now. Sun TV currently controls the six head ends in the distribution business in Tamil Nadu - Chennai, Madurai, Tiruchy, Tuticorin, Coimbatore and Tirupur.

 

But Raj TV officials say, if government officials decide to end the domination that the Sun network has on cable distribution in Tamil Nadu, then only it would enter this lucrative business.

Sun TV Network stock price

On April 17, 2014, Sun TV Network closed at Rs 396.85, up Rs 2.20, or 0.56 percent. The 52-week high of the share was Rs 457.25 and the 52-week low was Rs 324.15.


The company's trailing 12-month (TTM) EPS was at Rs 17.68 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 22.45. The latest book value of the company is Rs 73.41 per share. At current value, the price-to-book value of the company is 5.41.

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