Sun TV completes equity sale with Astro for radio subsidiary
 
Indiantelevision.com Team    04 Aug 09 10:17 IST

MUMBAI: Sun TV Network Ltd has announced the completion of stake transfer in its radio subsidiary South Asia FM Ltd (SAFL) to South Asia Multimedia Technologies Ltd (SAMT).

Indiantelevision.com earlier reported that Astro will infuse between Rs 750 million to Rs 1 billion into SAFL for the stake. This fund-inflow has followed a capital restructuring in SAFL and Sun TV's stake has fallen by five per cent to 59.15 per cent.

"SAMT a shareholder of SAFL, subsidiary of Sun TV Network has increased its stake in the equity of SAFL from 6.98 per cent to 20 per cent and the present shareholding of Sun TV Network Ltd in SAFL is 59.15 per cent," Sun TV said in a filing to BSE. Click here to read more...

 

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  Recent Comments:   | Add Comment  
Nerlekar 04:57:08 PM 22 Jul 2009 Report Abuse
I think it would be really good if SFM is rebranded as RED FM. But what needs to be seen is whether SFM manages to 'Bajao' and connect with the listeners like RED FM. Some of the shows on SFM are really boring. On the other hand, RED FM has some great RJs, great songs, great programming and to top it all, great presentation and self-promotion. Another advantage would be that listeners would be able to catch all updates/action happening in the shows for which RED FM is the radio partner. I would be looking forward to listening to RED FM Pune. And am really glad that SFM Pune is the first one to be renamed. Lets hope that the result is worth the wait.
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