Karunanidhi's wife offloads stake in Sun

DMK chief M Karunanidhi's wife has sold her 20 per cent stake in Sun Network and a portion of the proceeds has been taken as corpus for a trust.

In a statement, Karunanidhi said that his wife had amicably relinquished her shares in Sun TV and Kungumum, a weekly of Sun Network. After making provisions for income tax, she had divided the total proceeds and given him a portion, a sum of Rs 10 crore.

He said Rs 5 crore would be used as corpus to set up the Kalaignar Karunanidhi Charitable Trust, which would follow the objectives and rules of the DMK Trust.

He said that the Trust would receive Rs 2.5 lakh as interest, which would be "spent for the development of Tamil language and financial assistance for medical treatment, marriages and educational pursuits to the poor and weaker sections."