Home / General / Sun TV might be stopped. Fails Security Clearance. Stock falls 25%

Sun TV might be stopped. Fails Security Clearance. Stock falls 25%

Southern Media giant Sun TV and its group channels might be stopped telecasting, as these channels have not been given clearance by the Ministry over the pending cases against Maran brothers.

Maran Brothers - (Image Courtesy - Huffington Post)

Maran Brothers - (Image Courtesy - Huffington Post)

 

Home Affairs denies clearance

It is understood that the ministry of Home Affairs has not given the necessary security clearance to the Sun TV group of channels, as the promoter of this group – Kalanithi Maran is facing criminal charges. Kalanithi Maran and his brother Dayanidhi Maran are facing the CBI inquiriy into the alleged allotment of nearly 300 BSNL telephone lines to the residence of Dayanadhi Maran and to his brother’s TV channel group.

The Aircel-Maxis deal is also under investigation by the CBI which is against Kalanithi Maran of the Sun TV group.

 

Might lead to Cancellation of Licence

With this move of MHA denying the necessary security clearance, it could lead to cancellation of the Sun TV group’s broadcasting licence. This means that the channels might go off air.

Sun TV group had applied to I&B Ministry for the renewal of its licence for 10 years, for which the clearance from the Home Ministry is required. Sun TV is among the biggest channel groups in the South India with a coverage of more than 95 million homes.

 

Modi can save the Sun TV channels

It is understood that the decision could be taken to the Prime Minister and the PM can take a decision to alter the existing status. If Modi can override the decision of the Home ministry, then the Sun TV channels might still get the licenses renewed.

 

Shares falls 25% in the stock exchange

Stocks of Sun TV have fallen more than 25% in the National Stock exchange (NSE) today, after the reports of denial of MHA clearance have come out. The stock is trading at 265.3, down by 25.3% in today’s trade.


 

 

Related Videos