 "Sun TV Network expanding footprint in radio business")
Sun TV Network has said that the company is expanding its footprint in the radio business as it is showing good growth. In the Annual General Meeting of the company held in Chennai on Friday, the shareholders of the company sought it to expand its business with a national television channel, rather than remaining a regional channel.
..Replying the queries of shareholders related to the radio business, the company management said that it is looking at increasing the shareholder value through various businesses and radio business has a good potential for growth.
It may be noted that the company has earlier said that it has direct/indirect investments in FM Radio operations aggregating Rs 620.20 crore. It was also earlier involved in a legal dispute with the Ministry of Information and Broadcasting related to the FM license renewal and the Phase-III licensing auction.
The shareholders, in the annual general meeting held on Friday, sought for share split or a bonus issue and urged the company to expand its presence to pan India with a national television channel. The company management said that both the points are noted, though it cannot comment on starting a channel considering it is a strategy related question.
The company also assured that it would focused on creating shareholder value, while refusing to comment on the future plans.
