Reliance is imminent to take over Sun network

[Technoglitch]

After taking over one of India’s largest media companies in the form of Network 18 group, now Reliance Industries Limited is eyeing a take over of Kalanithi Maran’s Sun TV network, another big media house which was once named as Asia’s most profitable media corporation and the largest TV network, according to its Wikipedia page. Sources within the company have revealed to Tehelka that senior officials of the RIL are meeting at their Chennai office to work the deal out. It has been stated that the deal has been in the works since the past three months as RILofficials are doing due diligence.

How Reliance India Limited is taking over Indian Media, now buying Sun TV Network | Tehelka.com

 

[Technoglitch]

Following the developments, the Bombay Stock Exchange (BSE) has sought for a clarification from both Sun TV and RIL.

In a notice to both, BSE has said, “The Exchange has sought clarification from Sun TV Network Ltd with respect to news article appearing on ET Now on 20 March, 2015 titled "Tehelka reports - RIL considering acquiring Sun TV, RIL officials meeting at Chennai office to work out deal & deal in works for last 3 months."

The reply from both the parties is awaited.
Indian Television Dot Com | BSE seeks clarification from Sun TV following media reports of RIL buy out

 

[DashMajor]

Ambani looking to takeover all imp media network.

 

[Technoglitch]

yes, it seems like that..so that all media would say Ambani and so. But i am sure this might be just a speculation only as maran wont leave the business

 

[Devesh]

So RIL going to take over SUN TV network, what about SUN Direct?.... they r not trying for this....

 

[Technoglitch]

let the speculation be cleared and then we can worry about sun direct. If so, then sun direct can be sold to Anil ambani in a separate deal.

 

[NinadG]

Sun TV denies rumours of acquisition by Reliance Industries
In a strongly-worded statement, Sun TV has denied all rumours pertaining to its acquisition by Reliance Industries. “There is absolutely no truth in the news report that Sun TV is considering a stake sale” said SL Narayanan, Group CFO, Sun Group.

Earlier during the day, media reports emerged that Mukesh Ambani led Reliance Industries is going for acquisition of the Kalanithi Maran’s Sun TV network. The news created ripples across the industry as it was reported that RIL officials are in advanced talks with the management of Sun TV, once dubbed as the most profitable business house in Asia.

Sun TV denies rumours of acquisition by Reliance Industries

 

[NinadG]

Btw it would be great to see Jr & Sr Ambani competiting each other if Sun DTH is acquired by Mukesh Ambani....

 

[Technoglitch]

both would be merged if it happens.

 

[NinadG]

Disgruntled Maran doesn't have any support from govt now.........with strong central govt, he cann't do much........
& he is trapped in corruption scandles.............Also it seems he doesn't have support from beleaguered DMK supremo Karunanidhi whose sons are fighting among themselves................