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BSE seeks clarification from Sun TV following media reports of RIL buy out
MUMBAI: It was on 20 March 2015, that a media house published a speculative report stating possibilities of Reliance Industries Limited (RIL) taking over Kalanithi Maran’s Sun TV Network.
Last year, RIL had shocked the media industry by taking over one of India’s largest media companies – Network18.
The report further claims senior officials of RIL holding numerous meetings in Sun TV’s Chennai office to work the deal out.
Mukesh Ambani led Reliance Industries, which already has made its foray into the media sector by Network18’s acquisition, if at all takes over Sun TV, will put a huge question mark on the credibility and freedom of media.
Following the developments, the Bombay Stock Exchange (BSE) has sought for a clarification from both Sun TV and RIL.
In a notice to both, BSE has said, “The Exchange has sought clarification from Sun TV Network Ltd with respect to news article appearing on ET Now on 20 March, 2015 titled “Tehelka reports – RIL considering acquiring Sun TV, RIL officials meeting at Chennai office to work out deal & deal in works for last 3 months.”
The reply from both the parties is awaited.
