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Sun TV files for IPO

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MUMBAI: The Chennai-headquartered regional television broadcaster Sun TV Ltd has filed the red herring prospectus with Securities Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).

The company intends to come out with a fresh equity issue of 68,89,000 equity shares of Rs 10 each for cash, to be made entirely through the book building route.

The issue will constitute 10 per cent of the fully diluted post issue paid-up capital of the company. Following the issue, the shareholding of Sun TV Ltd principal promoter Kalanithi Maran will reduce to 89.99 per cent from 99.99 per cent (61,999,969 shares).

The other shareholders — three individuals Kavery Maran, Mallika Maran, K Shanumugam and three promoter group companies Kal Comm Pvt Ltd, Kumgumam Publications Pvt Ltd and Kal Publications Pvt Ltd — together hold less than 200 shares presently. The stake held in the company by M K Dayalu, wife of M Karunanidhi, was acquired by Maran for a total consideration of Rs 364.8 million at Rs 3,173 per share in October 2005.

The company has mandated Kotak Mahindra Capital Company and DSP Merril Lynch for the issue, which is slated to hit the market sometime towards the end of March or early April 2006.

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The prospectus states that the proceeds of the issue will be used to beef up its subsidiaries, launch more television channels and construct its own corporate office. Investments will also be made in setting up studio facilities and up-linking infrastructure, purchasing new equipment and upgrading the existing ones.

As per the prospectus, an investment of Rs 1.14 billion would require carrying out the TV channel launches; the new office and studio facilities would need Rs 623 million and the new equipment/up-gradation would cost Rs 312.6 million.

Regarding the investments planned on its radio initiatives, Sun TV estimates a total expenditure of Rs 1.83 billion towards acquisition of broadcast equipment and setting up of 46 local offices and radio studios.

The company also anticipates a pre-operating expenditure of Rs 50 crore towards obtaining frequency allocation, Standing Advisory Committee on Radio Frequency Allocation (SACFA) clearance, overheads prior to start of commercial operations and launch expenses.

According to the prospectus, Sun TV Ltd recorded a net profit of Rs 779.2 million for FY05 (Rs 772.9 million in FY04) on a total income of Rs 3 billion (Rs 2.7 billion in FY04). For the first half of FY06, the company’s net profit was Rs 625.5 million on a total income of Rs 1.6 billion. The company’s net worth as of 30 September 2005 was Rs 4.7 billion; its outstanding loans were Rs 105 million.

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“From fiscal 2001 to fiscal 2005, our total income grew at a compound annual growth rate of 19.5 per cent and our net profit after tax grew at a compound annual growth rate of 17.1 per cent. Our net profit after tax as a percentage of total income has averaged 27.6 per cent over the past five fiscal years,” states the prospectus.

“In November and December 2005, we paid dividends of Rs 1,850 million in the aggregate and in December 2005 we made a bonus issue of Rs 600 million, and our reserves and surplus were accordingly reduced. We believe we are in a stable financial position to take advantage of future opportunities, including acquisitions, to expand our business,” the prospectus adds.

The red herring prospectus says that in Tamil Nadu, the combined audience share of all Sun channels is 60 per cent compared to the 5 per cent of its closest competitor for the year ended 31 March.

Sun TV Ltd has also expressed its intention to convert all its channels pay. “All our Tamil and Malayalam channels are available as FTAs to cable operators throughout India, except KTV, Sun News and Sun Music, which are available as pay channels. We intend to make all our channels pay channels in the near future,” the prospectus states.

Sun TV Ltd is part of the Sun Network, which runs 14 TV channels, four FM Radio stations, two daily newspapers and four magazines. Sun TV Ltd comprises four Tamil channels — Sun TV, Sun Music, KTV and Sun News — and two Malayalam channels — Surya TV and Kiran TV.

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Sun TV has also said that it will utilise the mobile telephone and broadband technologies for content distribution. “As part of our growth strategy, we may broaden our media presence through other platforms including broadband, mobile and DTH,” states the document.

The company is presently in the process of launching its DTH services.

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Sun TV posts steady revenue, profit dips amid rising costs

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CHENNAI: It appears there is still plenty of Sun to go around in the Indian broadcasting landscape, even if a few clouds have drifted across the financial horizon. Sun TV Network Limited, the Chennai-based behemoth that dominates airwaves across seven languages, has tuned into a steady frequency for the quarter ending 31 December 2025. While the numbers show a resilient revenue stream, the company’s latest broadcast reveals a few static-filled spots in its profit margins.

For the quarter in question, Sun TV’s total income climbed by approximately 3.31 per cent, reaching Rs 958.39 crores compared to Rs 927.66 crores in the same period last year. Revenue from operations also saw a healthy bump, rising 4.32 per cent to Rs 827.87 crores.

The real star of the show, however, was domestic subscription revenue, which surged by 8.86 per cent to Rs 472.99 crores. This growth highlights the enduring appetite for Sun’s diverse content, which spans everything from daily soaps in Tamil and Telugu to its burgeoning OTT platform, Sun NXT.

Despite the revenue growth, the picture quality of the profits was slightly blurred by rising costs. Eitda for the quarter stood at Rs 409.79 crores, a dip from the Rs 432.14 crores recorded in the corresponding 2024 quarter.

The profit after tax followed a similar downward trend, settling at Rs 316.44 crores against the previous year’s Rs 347.17 crores. Advertisers also seemed to have switched channels slightly, with advertisement revenues sliding to Rs 291.94 crores from Rs 332.17 crores.

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Sun TV isn’t just playing on home turf; its sporting ambitions are becoming increasingly global. The network now owns three major cricket franchises: SunRisers Hyderabad in the IPL, SunRisers Eastern Cape in SA20, and SunRisers Leeds Limited in The Hundred (UK).

The foray into British cricket saw the company acquire a 100 per cent stake in Northern Superchargers Limited (now SunRisers Leeds) for approximately £100 million. While these franchises brought in Rs 14.61 crores this quarter, they also incurred corresponding costs of Rs 19.89 crores. Over the nine-month period, however, the cricket business is a major player, contributing Rs 487.64 crores in income.

The company’s bottom line took a minor hit from exceptional items, including a Rs 4.23 crore charge related to India’s new Labour Codes, which consolidated 29 existing labour laws. Additionally, the consolidated results reflect the amalgamation of Kal Radio Limited with Udaya FM, a move that became effective in May 2025 and required a restatement of previous figures.

To keep investors from reaching for the remote, the Board has declared an interim dividend of 50 per cent, that’s Rs 2.50 per equity share. This comes on top of earlier dividends of 100 per cent (Rs 5.00) and 75 per cent (Rs 3.75) declared in August and November 2025, respectively.

With a massive cash reserve and a dominant position in the South Indian market, Sun TV continues to shine, even if the current quarter required a bit of fine-tuning. For now, shareholders can sit back, relax, and enjoy the show.
 

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SPNI hires Pradeep M with responsibility for standards and practices in the south

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MUMBAI: Sony Pictures Networks India has hired Pradeep M to handle standards and practices for its southern market, bolstering its compliance bench as content rules tighten across platforms.

Pradeep, who has nearly 13 years in the entertainment media industry, takes on responsibility for content standards in a region that is both linguistically diverse and regulatorily sensitive. His brief spans television, OTT, sports and digital platforms.

He specialises in content review and compliance across shows, commercials, on-air promotions and international feeds, ensuring alignment with broadcast, OTT and advertising codes. He has also handled brand approvals and sponsorship integrations for heavily regulated categories—including online gaming, cryptocurrency, NFTs and lottery brands—offering guidance shaped by fast-evolving rules.

Before Sony, Pradeep worked at Jiostar as assistant manager for content regulation from November 2024 to January 2026. Earlier, he spent nearly seven years at Viacom18 Media, rising from senior executive to assistant manager in content regulation between 2018 and 2024. There he served as a key compliance touchpoint for the network.

His career began on the creative side. Between 2013 and 2018, he worked as executive producer on feature films and television shows, gaining hands-on exposure to production. He also had a stint as a non-fiction show director at Star TV Network in 2017. That mix of creative and regulatory experience gives him a dual lens—how content is made and how it must be managed.

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As regulators, platforms and advertisers all tighten the screws, broadcasters are investing more in gatekeepers who can keep creativity within the lines. Sony’s latest hire shows where the industry is heading: in the streaming age, compliance is content’s quiet co-star.

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Colors Gujarati rolls out two new shows from 2nd February

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MUMBAI: Colors Gujarati has unveiled two new prime-time shows as part of its push to strengthen culturally rooted storytelling for regional audiences. The channel will premiere the devotional saga Gangasati–Paanbai at 7.30 pm, followed by the romantic family drama Manmelo at 9.30 pm from February 2.

Inspired by Gujarat’s spiritual and literary heritage, Gangasati–Paanbai: Shyam Dhun No Navo Adhyay draws from the timeless bhajans and poetry of saint-poetesses Gangasati and Paanbai, weaving devotion and human values into a contemporary narrative aimed at younger viewers.

In contrast, Manmelo explores love and responsibility across social divides, tracing the lives of three middle-class sisters whose relationships with three affluent brothers reshape their futures. The show delves into ambition, emotional conflict and the realities of married life, offering a layered family drama.

A Colors Gujarati spokesperson said the new launches reflect the channel’s commitment to authentic Gujarati entertainment that blends cultural values with modern storytelling.

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