'All the legal notices issued by the family member to the promoter have been unconditionally and irrevocably withdrawn by the said family member and the issues hereby stand resolved,' says Sun TV in a stock exchange filing
The notice also alleges that the 2003 allotment of shares to Kalanithi Maran were done at face value of Rs 10 each although fair value of the said shares was anywhere between Rs 2,500 and Rs 3,000 at that time.
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
Kalanithi has an estimated net worth of about Rs 30,289 crore, according to reports. His wealth primarily stems from his vast media empire, including television, radio, and film production, alongside his foray into sports ownership.
The strongly worded legal notice, dated 10th June, 2025, threatens to initiate civil, criminal, regulatory and enforcement proceedings against Sun TV chairman Kalanithi Maran and seven other respondents, unless they restore the shareholding of the media company to its original state in 2003.This is the second legal notice after one sent in October 2024.
The latest Star-Viacom merger also poses key threats to Sun TV Network--intense competition for ad revenues in its core networks and a reduction in IPL media rights from the next cycle, dragging valuations for Sunrisers Hyderabad lower.
Brokerages expressed their dissatisfaction with the results, downgrading the stock due to high valuations and concerns over future earnings potential
The company had reported a PAT (profit after tax) of Rs 592.08 crore in the April-June period a year ago, according to a BSE filing from Sun TV Network, one of the largest broadcasters.
Around 1 percent stake in Sun TV changed hands at an average of Rs 778 apiece. Moneycontrol could not ascertain the buyers and sellers of this transaction.
The Sun TV Network stock has given a return of 44.39 percent over the last six months. The benchmark Nifty50 index has given a return of 6.12 percent over the last six months.
Sun TV Q1 earnings: Advertising revenue came in at Rs 339.10 crore against Rs 343.17 crore in the year-ago period, down almost a percent and missed analyst expectations
Its revenue from operations was Rs 840.36 crore, 1.92 per cent lower, during the period. It was Rs 856.85 crore in the year-ago period.
Net Sales are expected to increase by 29.2 percent Y-o-Y (up 25.6 percent Q-o-Q) to Rs. 1,046.5 crore, according to ICICI Direct.
IPL Media Rights Day 2 Highlights: On March 29, the Board of Control for Cricket in India had announced the release of invitation to tender for the media rights cycle. The overall base price of the media rights is estimated at Rs 32,890 crore.
IPL Media Rights Highlights: On March 29, the Board of Control for Cricket in India had announced the release of invitation to tender for the media rights cycle. The overall base price of the media rights is estimated at Rs 32,890 crore.
Net Sales are expected to increase by 14.4 percent Y-o-Y (down 13.4 percent Q-o-Q) to Rs. 894.9 crore, according to ICICI Direct.
Net Sales are expected to decrease by 2.3 percent Y-o-Y (up 14.6 percent Q-o-Q) to Rs. 949.8 crore, according to ICICI Direct.
Net Sales are expected to increase by 10.1 percent Y-o-Y (up 2.7 percent Q-o-Q) to Rs 832.3 crore, according to ICICI Direct.
Net Sales are expected to increase by 4.3 percent Y-o-Y (down 21.1 percent Q-o-Q) to Rs. 767.1 crore, according to ICICI Direct.
The company's profit for the quarter ended September 30, 2020 declined 5.62 percent to Rs 345.91 crore, from Rs.366.51 crore in the same quarter a year ago. CLSA and Nomura maintain buy.
Dolat Capital is bullish on Sun TV has recommended buy rating on the stock with a target price of Rs 575 in its research report dated August 18, 2020.
Sun TV Network promoter-chairman Kalanithi Maran and his wife Kavery Kalanithi earned Rs 87.50 crore each in 2019-20
Dolat Capital is bullish on Sun TV has recommended buy rating on the stock with a target price of Rs 575 in its research report dated August 18, 2020.
The Q1 results were a positive surprise, led by 18 percent YoY growth in subscription revenue, says CLSA.
Net Sales are expected to decrease by 43.9 percent Y-o-Y (down 17.6 percent Q-o-Q) to Rs. 606.1 crore, according to ICICI Direct.