Sun Network moves closer to The Hindu
The close relationship between Sun Network and The Hindu is widely known. If rumour mills are to be believed, Sun Network is eyeing a stake in The Hindu (an unlisted entity). It’s not very clear whether The Hindu is actively scouting for investments. As fas as I know, The Hindu doesn’t have any immediate plans of tapping the equity markets either.
Media circles are abuzz that influential representatives of the Maran family have already sent feelers to Editor-in-Chief N. Ram for a stake-sale in The Hindu. (For the record, Sun is flush with money. Its scrip issued at Rs 875 through the book-building process is now hovering around the Rs 1,700 mark.)
Well placed sources say Sun’s initial overtures have been grandly rebuffed by the family owned newspaper. But given the manner in which the group muscled its way into the cable TV market with Sumangali, and the impunity with which it used Dayanidhi Maran’s position as Union Information Technology minister to obstruct the Tata DTH project (because the Tatas refused to give a stake to Sun), observers say the last word on the subject has not been said. [Link]
Although this can be dismissed as a rumour, I wouldn’t be surprised if this turns out to be true.
posted by Kaps at
11:24 PM
9 Comments:
oh dear.. oh dear.. already Hindu could be dubbed as English Murasoli. If the alleged rumour turns out to be true, they could very well rename the paper as 'Drumbeat'.
By
Chakra, at 12:56 AM
Kaps, it's not just close, they are actually related through a marriage - you are aware of that right ?
By
Anonymous, at 3:18 AM
@Chakra,
Drumbeat looks like a good name :-)
@BNB,
I do know about the marriage.
By
Kaps, at 11:20 AM
What a fall for the Mount Road Mahavishnu :-(.
By
Anonymous, at 5:39 PM
This news is not a big surprise, atleast for those who track the two (Hindu and DMK/SUN TV group). Both are ideologically alike (atheist, nominally leftist, federalist) and so they would flock together.
The only area where they would differ is on Eelam , but even that may be sorted out.
The only question is whether N.Ram and his comrades are so confident that the present Ruling party will be in power for ever in TN . Or if it is only for money, where does the Leftist Ram plan to reinvest his sale proceeds?
By
ramki830, at 1:37 AM
yeah.. the marriage brought the two families a whole lot closer. so much that the hindu today is merely a shadow of its former self. an editorial column by ram recently commented on how trial by media is increasingly common these days. this itself would have been fine but then he was talking about it with respect to lalu's acquittal; he went on to praise lalu, undoubtedly one of the most corrupt leaders in mordern india. was this the same hindu that broke the bofors story? i dont think so. it has morphed into a mouthpiece for the congress-dmk combine.
By
Anonymous, at 8:30 AM
Oops! I did not know about this relation between Sun and The Hindu. My impression is that Hindu is one of the last man standing in responsible, meaningful journalism, not willing to bow in front of advertisers' money and upholding its values. And I hope it is. I don't know about Sun. And the alliance is not something I look forward
By
Unny, at 2:53 PM
Never. Ram will not give in. And Hindu is equally flushed with INR.
By
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