Sun TV Network has on June 20 informed exchanges that reports of the feud between its promoters, the Maran family are a personal matter and don't have an impact on the business of the company or its day-to-day functioning.
"The matters alleged in the articles do not have any bearing on the business of the Company or its day-to-day functioning and being the family matter of the Promoter are purely personal in nature," the company said.
Sun TV's clarification came a day after Moneycontrol exclusively reported on the feud between its chairman Kalanithi Maran and his younger brother Dayanidhi Maran. All major media outlets have subsequently reported the development after Moneycontrol broke the story.
The latter sent a legal notice to the former alleging that Kalanithi indulged in fraudulent practices to wrest majority control of Sun TV, one of India's most profitable media companies.
Sun TV further disputed media reports on the simmering fight between the siblings, calling the charges "incorrect, misleading and speculative in nature
"The statements allegedly made in the articles are incorrect, misleading, speculating, defamatory and not supported by facts or law. We wish to inform that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the Company," it said.
On June 20, Sun TV shares were trading lower by nearly 3.5% in early trade. The stock has declined 34% from its recent 52-week high of Rs 907. The shares have been down 12% so far in 2025 and 21% over the last 12 months.
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