Sun TV Network, one of the major television broadcasters in the country is shutting down its Kannada news channel Udaya News with plans to convert it into another genre. The company has been operating the channel for past 19 years and is now compelled to close down it as it is not viable, said sources close to the development.According to company officials, the plans are to discotinue Udaya News in next couple of months and use the space for another genre like General Entertainment Channel (GEC). The exact plans on what the new channel could be is not finalised. There were reports that the company has filed a document with the Commissioner of Labour and others in Karnataka, in whichh has mentioned that the news division has been incurring substancial losses over the past couple of years and given the competition the channel is facing, the viewership share of Udaya News is also relatively low. The decision to close down the news division is for business reasons and the company is not ..
The stock moved higher to its record high of Rs 773, up 9.5% on the BSE in intra-day trade
All charges against the company's promoters in the Aircel-Maxis case are being dropped
Dayanidhi Maran says CBI filed case without any evidence
The stock zoomed 26% to Rs 694, also its lifetime high on the National Stock Exchange in early morning trade
Raj Television Network has rallied 20% to Rs 69.25, while Sun TV Network surged 12% to Rs 493 on the NSE in intra-day.
Five radio channels will now come up in Chandigarh, Patna, Amritsar, Surat and Jammu.
The company earlier said it has investments to the tune of Rs 620 crore into FM radio business
While their salaries remained flat, ex-gratia and bonus pushed up their total pay packs to Rs 71.4 crore each
It has been muted for past three quarters; however, Q1 results in line with expectations
Amid expectations of improving growth in ad revenues, inexpensive valuations, most analysts positive
Sun TV is promoted by DMK chief M Karunanidhi's grand-nephew Kalanithi Maran
On Tuesday, the shares gained 10% to close at Rs 431.6. On the NSE, the gains were slightly higher at 10.4% at the close of Rs 435 apiece
The stock surged 10% to Rs 434 on the BSE in early morning trade on back of heavy volumes.