- India-focused OTT production entity Golden Karavan launched
- Woman alleges gang rape by two men in SUV
- Film producer Karim Morani surrenders in rape case
- Ryan school murder case: CBI team reaches school, starts probe
- Karti closed many foreign accounts, shifted money: CBI
- Pakistan shells border posts, hamlets in J&K; BSF jawans among 7 injured
- Sushma Swaraj raises issue of terrorism, H1-B with US Secretary of State
Sun Direct has issued a public notice stating that Star India channels will be available on RIO on its platform from 1 August.
Kalanithi Maran-promoted Sun Direct has posted full-fiscal net profit for the first time. In FY17, Sun Direct’s net profit stood at Rs 32.21 cr compared to a loss of Rs 35.30 cr a year ago. Revenue grew to Rs 1,211 cr and ARPU climbed. Addition of transponders and HD channels helped.
21st Century Fox is in talks with the Tata group to up its stake in Tata Sky, a JV DTH company where it owns nearly 30% stake. The new development comes in the wake of the Tata group and Bharti Airtel reportedly holding exploratory talks to evaluate a broader alliance involving their telecom, overseas cable and enterprise services, and DTH businesses.
If a deal is to be hatched, Reliance Digital TV will necessarily have to move to Sun Direct. How will Sun Direct benefit from the deal? What are the clouds that still darken the prospects of a deal?
DTH companies, which paid Rs 1,300 cr as entertainment tax in FY17, are expecting the burden to lighten after GST comes into force. The sector could save Rs 700 cr in lieu of tax. But a spoke in the wheel could appear in the form of local bodies coming out with ET.
Sun Direct has capex plan of Rs 1,475 cr for next 3 financial years. Out of this, intent is to have debt funding of Rs 450 cr during FY18–FY20. Future capex is expected to be supported through internal accruals and debt, with no further dependence on promoters’ contribution.
Sun Direct, the DTH arm of the Kalanithi Maran-promoted Sun group, is turning around. After incurring losses till FY16, the company is hitting the profitability mark.
The financial woes of Reliance Communications could lead to new rounds of exploration between Reliance Digital TV and Sun Group’s Sun Direct, including a buyout. After all, they were exploring a merger in 2013.
Fresh from his victory against established news channels, Republic TV founder Arnab Goswami lambasted the NBA calling it ‘toothless’ and a ‘cabal of a few broadcasters’.