Sun TV Network forced to clarify SEBI on news of Rs 450 Cr movie acquisition plan August 4, 2015 by Tvnews4u.com 0 Previous post Microsoft and A+E Networks Asia sign partnership deal to sponsors MasterChef Asia Next article Day 6 of Phase III FM Radio Auction; 82 stations in 56 cities became provisionally winning channels Chennai : The Friday interview by S L Narayanan, CFO of Sun TV Network has put the channel in the dock, with the Bombay Stock Exchange (BSE) seeking clarification with reference to a news article that appeared on 1st August 2015, in the edition of Business Standard, captioned ‘Sun TV to invest Rs 450 Cr in buying movie rights’. Clarification by Sun TV Network to the BSE, stated, “The company has always been buying satellite broadcast rights from film producers to provide content for our various programming initiatives for the past several years. In that sense, the above news item is about a routine activity and does not constitute something new or extraordinary. The amounts spent on purchase of satellite broadcast rights have been around the same ballpark for the past couple of years and appropriately disclosed in annual accounts.” The statement further added, “Since we believed bona fide that any disclosures about the amount allocated for purchase of movie broadcast rights are routine in nature, it does not qualify under clause 36 of the Listing Agreement.” Sun TV Network has been in the news for the Aircel-Maxis deal and misuse of BSNL phone lines, where former Union Telecom Minister Dayanidhi Maran had allegedly arm twisted Aircel owner C Sivasankaran to sell his stake to Maxis in first case and also alleged of setting up a illegal telephone exchange in his premises and causing loses in crores to the exchequer. Companies used to declare their larger investment plans in advance to boost the morale of share holder during difficult times, as part of their PR exercise and the recent interview by S L Narayanan, CFO of Sun TV Network was seen as a part of the company’s ongoing efforts to regain the confidence of the market after the recent set back witnessed by the company due to the denial of security clearance by the Home Ministry and Information and Broadcasting Ministry.
Sun TV Network forced to clarify SEBI on news of Rs 450 Cr movie acquisition plan August 4, 2015 by Tvnews4u.com 0 Previous post Microsoft and A+E Networks Asia sign partnership deal to sponsors MasterChef Asia Next article Day 6 of Phase III FM Radio Auction; 82 stations in 56 cities became provisionally winning channels Chennai : The Friday interview by S L Narayanan, CFO of Sun TV Network has put the channel in the dock, with the Bombay Stock Exchange (BSE) seeking clarification with reference to a news article that appeared on 1st August 2015, in the edition of Business Standard, captioned ‘Sun TV to invest Rs 450 Cr in buying movie rights’. Clarification by Sun TV Network to the BSE, stated, “The company has always been buying satellite broadcast rights from film producers to provide content for our various programming initiatives for the past several years. In that sense, the above news item is about a routine activity and does not constitute something new or extraordinary. The amounts spent on purchase of satellite broadcast rights have been around the same ballpark for the past couple of years and appropriately disclosed in annual accounts.” The statement further added, “Since we believed bona fide that any disclosures about the amount allocated for purchase of movie broadcast rights are routine in nature, it does not qualify under clause 36 of the Listing Agreement.” Sun TV Network has been in the news for the Aircel-Maxis deal and misuse of BSNL phone lines, where former Union Telecom Minister Dayanidhi Maran had allegedly arm twisted Aircel owner C Sivasankaran to sell his stake to Maxis in first case and also alleged of setting up a illegal telephone exchange in his premises and causing loses in crores to the exchequer. Companies used to declare their larger investment plans in advance to boost the morale of share holder during difficult times, as part of their PR exercise and the recent interview by S L Narayanan, CFO of Sun TV Network was seen as a part of the company’s ongoing efforts to regain the confidence of the market after the recent set back witnessed by the company due to the denial of security clearance by the Home Ministry and Information and Broadcasting Ministry.
Hi deepak Jyothilakshmi rights to maa tv
ReplyDeleteI always expected jyothi lakshmi to maa tv,thanks for the update pawan
DeleteSun TV Network
ReplyDeleteforced to clarify SEBI
on news of Rs 450 Cr
movie acquisition
plan
August 4, 2015 by
Tvnews4u.com
0
Previous post
Microsoft and A+E Networks Asia
sign partnership deal to sponsors
MasterChef Asia
Next article
Day 6 of Phase III FM Radio Auction;
82 stations in 56 cities became
provisionally winning channels
Chennai : The Friday interview by S L
Narayanan, CFO of Sun TV Network
has put the channel in the dock,
with the Bombay Stock Exchange
(BSE) seeking clarification with
reference to a news article that
appeared on 1st August 2015, in the
edition of Business Standard,
captioned ‘Sun TV to invest Rs 450
Cr in buying movie rights’.
Clarification by Sun TV Network to
the BSE, stated, “The company has
always been buying satellite
broadcast rights from film producers
to provide content for our various
programming initiatives for the past
several years. In that sense, the
above news item is about a routine
activity and does not constitute
something new or extraordinary. The
amounts spent on purchase of
satellite broadcast rights have been
around the same ballpark for the
past couple of years and
appropriately disclosed in annual
accounts.”
The statement further added, “Since
we believed bona fide that any
disclosures about the amount
allocated for purchase of movie
broadcast rights are routine in
nature, it does not qualify under
clause 36 of the Listing Agreement.”
Sun TV Network has been in the
news for the Aircel-Maxis deal and
misuse of BSNL phone lines, where
former Union Telecom Minister
Dayanidhi Maran had allegedly arm
twisted Aircel owner C Sivasankaran
to sell his stake to Maxis in first case
and also alleged of setting up a
illegal telephone exchange in his
premises and causing loses in crores
to the exchequer.
Companies used to declare their
larger investment plans in advance
to boost the morale of share holder
during difficult times, as part of
their PR exercise and the recent
interview by S L Narayanan, CFO of
Sun TV Network was seen as a part of
the company’s ongoing efforts to
regain the confidence of the market
after the recent set back witnessed
by the company due to the denial of
security clearance by the Home
Ministry and Information and
Broadcasting Ministry.
Sun TV open for stake sale in its
ReplyDeleteIPL Team Sunrisers Hyderabad
I guess many companies will be ready to join as partner for sun risers
DeleteSun TV Network
ReplyDeleteforced to clarify SEBI
on news of Rs 450 Cr
movie acquisition
plan
August 4, 2015 by
Tvnews4u.com
0
Previous post
Microsoft and A+E Networks Asia
sign partnership deal to sponsors
MasterChef Asia
Next article
Day 6 of Phase III FM Radio Auction;
82 stations in 56 cities became
provisionally winning channels
Chennai : The Friday interview by S L
Narayanan, CFO of Sun TV Network
has put the channel in the dock,
with the Bombay Stock Exchange
(BSE) seeking clarification with
reference to a news article that
appeared on 1st August 2015, in the
edition of Business Standard,
captioned ‘Sun TV to invest Rs 450
Cr in buying movie rights’.
Clarification by Sun TV Network to
the BSE, stated, “The company has
always been buying satellite
broadcast rights from film producers
to provide content for our various
programming initiatives for the past
several years. In that sense, the
above news item is about a routine
activity and does not constitute
something new or extraordinary. The
amounts spent on purchase of
satellite broadcast rights have been
around the same ballpark for the
past couple of years and
appropriately disclosed in annual
accounts.”
The statement further added, “Since
we believed bona fide that any
disclosures about the amount
allocated for purchase of movie
broadcast rights are routine in
nature, it does not qualify under
clause 36 of the Listing Agreement.”
Sun TV Network has been in the
news for the Aircel-Maxis deal and
misuse of BSNL phone lines, where
former Union Telecom Minister
Dayanidhi Maran had allegedly arm
twisted Aircel owner C Sivasankaran
to sell his stake to Maxis in first case
and also alleged of setting up a
illegal telephone exchange in his
premises and causing loses in crores
to the exchequer.
Companies used to declare their
larger investment plans in advance
to boost the morale of share holder
during difficult times, as part of
their PR exercise and the recent
interview by S L Narayanan, CFO of
Sun TV Network was seen as a part of
the company’s ongoing efforts to
regain the confidence of the market
after the recent set back witnessed
by the company due to the denial of
security clearance by the Home
Ministry and Information and
Broadcasting Ministry.
helloo friends naa peru suryanarayana raju, nenu ee blog chala chala rojulu nunchi follow avuthunna kaani ee rojay member ayyanu. thank you
ReplyDeletewell cme frnd
ReplyDeletewe welcome you to the blog frnd
ReplyDeleteHiiii deepak I am a big fan of this blog
ReplyDeletethank you very much shaik hameed:)
DeleteBaahubali right meda inkaaa suspense ne na deepak....?
ReplyDeleteHaa jaya raj,starting maa teeskundi annaru,tharavatha etv antunaru...suspence still continues...
DeleteDon't know why Gemini is so silent on Baahubali rights...seems like Gemini is not in race to acquire.
ReplyDeleteyes raman,only maa music & etv are playing bahubali full songs...i guess etv & maa are in race
DeleteDeepak Lion coming Soon On Gemini Tv...See Gemini TV FB Page.....................
ReplyDeleteyeah sree yesterday gemini tv fb page lo chusanu...may be august 15th ki veyochu ani guessing
Delete