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...