The Hindu Business Line : Sun TV's equity base to go up

After the merger of Gemini and Udaya with Sun TV Ltd, Sun's equity base will go up 43 per cent with the addition of 2.96 crore shares that will be issued to the shareholders of Gemini and Udaya.

Sun TV is to be renamed Sun TV Network Ltd, says a notification from the company to the BSE.

After the merger, the number of channels in Sun TV's bouquet will increase from 6 to 15. Sun TV currently operates four television channels — Sun TV, KTV, Sun News and Sun Music — in Tamil language, two television channels — Surya TV and Kiran TV — in Malayalam language, three FM radio stations, and another three FM radio stations through its subsidiaries. The two subsidiaries of the company, namely, Kal Radio Ltd and South Asia FM Ltd, jointly hold 41 FM radio licences for FM radio stations across India.

Gemini owns and operates five television channels — Gemini TV, Teja TV, Gemini News, Gemini Music and Gemini Cable Vision. Udaya owns and operates four television channels — Udaya TV, Udaya Movies, Udaya Varthegalu and Udaya TV II. "The amalgamation will enable the company to build a dominant presence in South India," the notification says.

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