ITV

Tag: Suryan FM

  • Mock auctions extended by a day to accommodate Sun Group FM bidders

    Mock auctions extended by a day to accommodate Sun Group FM bidders

    NEW DELHI: Even as the e-auction for the first batch of bidders for FM Phase III is to commence on 27 July, the Government held three rounds of mock auctions instead of the originally announced two.

     

    The mock auctions while earlier were slated for 22 and 23 July, were extended by one more day to 24 July.

     

    Information and Broadcasting (I&B) Ministry sources told Indiantelevision.com that the mock exercise had been extended in the light of the Delhi High Court order of 22 July with regard to Red FM for taking part in the auctions and the Madras High Court order of 23 July with regard to Kal Radio-run Suryan FM to take part in the e-auctions.

     

    C1 India Pvt. Ltd is serving as the e-auctioneer and auction adviser to the I&B Ministry, who arranged the training of pre-qualified bidders for the first batch of private FM radio Phase III on 17 July, 2015. The training was held in two batches on the same day, at National Media Centre in New Delhi.

     

    A total of 28 applicants had applied for the e-auction of 135 private FM radio channels for the first batch of the Phase III expansion plan. The 28 applicants had cumulatively submitted Rs 316.91 crore as earnest money deposit by 27 March, 2015, which was the deadline for the application process.

     

    Meanwhile the petition related to participation Red FM in the FM Phase III auction will be heard by the Supreme Court on 25 July. 

  • Madras HC permits Sun Group’s Suryan FM to participate in auction

    Madras HC permits Sun Group’s Suryan FM to participate in auction

    MUMBAI: Following the Delhi High Court’s interim order, which permitted Red FM to attend mock auctions for Phase III, a directive has been issued by the Madras High Court, allowing Suryan FM to participate in the actual FM auctions.

     

    With this, Sun Group’s Kal Radio, which runs Suryan FM, will now participate in the auctions. Sun Group earlier challenged the Union Ministry’s decision of not giving the company security clearance, due to which the Information and Broadcasting (I&B) Ministry failed to include Sun Group in the pre-bidders list for the Phase III auctions process.

     

    No official statement was issued at the time of filing this report, as the Network is awaiting the hard copy from High Court. Justice M Sathyanarayanan passed the order on the petition filed by the company.

     

    A few days ago, the networks – Digital Radio Broadcasting and Kal Radio, approached the Delhi and Madras High Courts seeking judicial directive on the Ministry’s decision to keep them away from the auctions.

     

    Mock auctions for Phase III are scheduled to take place on 22 and 23 July, 2015, while the actual auction will begin from 27 July, 2015.

     

    P S Raman, senior counsel had appeared on behalf of the petitioner. He pointed out that Dayanidhi Maran is not a shareholder in any of these companies, and that he is under serious charges, and not the company or its subsidiaries. The reason for denial by the Ministry was in line with allegations of Dayanidhi Maran’s holding in the companies. Raman also argued that restriction is against the fundamental rights of freedom of expression.

     

    He also stated that there is no clause in the Indian Telegraph Act, 1885, where there is a mention of security clearance.

     

    The Sun Group counsel also pointed out that Reliance’s Big FM was permitted to take part in the auctions even though the network was under serious charges as well.

     

    On the other hand, Additional Solicitor General G Rajagopalan pointed fingers at the group’s promoters facing serious economic offences. According to the Centre, it will not go down well with the people of the country, if the network was permitted to participate in bidding of licenses.

     

    Meanwhile, the final verdict from the Delhi High Court is expected to be revealed on 24 July.

  • Sun TV FY06 net profit up by 70%, declares 20% dividend

    Sun TV FY06 net profit up by 70%, declares 20% dividend

    MUMBAI: Sun TV Limited has announced the financial result for the fiscal ended 31 March 2006. For the 2005-2006 fiscal, the company has reported 69.65 per cent increase in profit after tax at Rs 1302.3 million and revenues for the year are up at Rs 3219.1 million.

    According to an official release, the program licence income has registered a growth of 101 per cent. The Earnings per share (EPS) is up 70 per cent at Rs 21 from Rs. 12.38 for the same period last year. The Board of Directors have recommended a dividend of 20 per cent for the year.

    Inspired by the good FY06 performance, the Sun TV scrip closed at 1,083.60, recording a jump of Rs 38.10 at the Bombay Stock Exchange (BSE) today. At the National Stock EXchange (NSE), it ended the day’s trade at 1,085.50 with a gain of Rs 35.30.

    Sun TV had entered the capital market on 3 April 2006 with an IPO. Sun TV Ltd. offers four Tamil language channels, including the flagship channel, Sun TV and two Malayalam channels, including Surya TV. It also operates leading Tamil radio stations under the name Suryan FM.

  • Sun TV to consolidate radio assets in Kal Radio, South Asia FM

    Sun TV to consolidate radio assets in Kal Radio, South Asia FM

    MUMBAI: Sun TV is transferring the existing licenses of its operational radio stations to the subsidiary companies – Kal Radio Ltd and South Asia FM Ltd.

    The company has applied to the ministry of information and broadcasting (MIB) for approval. The plan is to consolidate Sun’s FM radio assets in Kal Radio and South Asia FM, the two subsidiaries who have bid for licenses under Phase II of FM radio expansion.

    Sun’s existing FM radio operations are in four cities. Suryan FM has licenses and operates in Chennai, Coimbatore and Tirunelveli. Udaya TV Pvt Ltd. operates Vishaka FM in Visakhapatnam and has also applied to the MIB for the transfer of the license to Kal Radio.

    Some analysts expect radio operations to contribute to 20 per cent of Sun’s total revenues by FY 2008. Suryan FM generated 9.3 per cent and 8.8 per cent of the total advertising income of Sun TV for fiscal 2005 and nine months ended 31 December 2005. Suryan FM was launched in Coimbatore and Tirunelveli in March and in Chennai in May 2003.

    Sun TV is using the radio vehicle to expand to language markets other than Tamil and Malayalam. It plans to set up and operationalise FM radio stations in 41 cities across the country. Kal Radio has bid for stations like Bangalore and Hyderabad in the southern region while South Asia will operate in the other markets including cities like Pune, Ahmedabad and Allahabad.

    Sun TV will use a major chunk of the proceeds from the initial public offering (IPO) to capitalise the radio business. The company aims to raise Rs 6.03 billion at the top end of the price band at Rs 875 per share.

    Kal and South Asia FM would require an approximate of Rs 1.83 billion towards acquisition of broadcasting equipement (FM transmitters, FM antennas, payment of common infrastructure), setting up of local offices and radio studios. Besides, the inter-corporate deposits provided to the subsidiaries for bidding in Phase II amounted to around Rs 1.55 billion.

    The public issue opens on 3 April and will close on 7 April.

    Sun TV owns 89 per cent in Kal Radio and 94.91 per cent in South Asia FM. Promoter Kalanithi Maran holds 10.5 per cent in Kal Radio and 5.1 per cent in South Asia FM.