JitendraKumar
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Sun TV Network clarifies Rs 450 crore investment in buying movie rights
- Thread starter JitendraKumar
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The Bombay Stock Exchange sought
clarification from Sun TV Network with
reference to the news article appeared in
Business Standard as on August 01, 2015
captioned "Sun TV to invest Rs 450 Crs in
buying movie rights" today.
Sun TV Network shared a clarification
stating, “The Company has always been
buying satellite broadcast rights from film
producers to provide content for our various
programming initiatives for the past several
years. In that sense, the above news item is
about a routine activity and does not
constitute something new or extra ordinary.
The amounts spent on purchase of satellite
broadcast rights have been around the same
ball park for the past couple of years and
appropriately disclosed in annual accounts.”
“Since we believed bona fide that any
disclosures about the amount allocated for
purchase of movie broadcast rights are
routine in nature, it does not qualify under
clause 36 of the Listing Agreement,” the
statement added.
clarification from Sun TV Network with
reference to the news article appeared in
Business Standard as on August 01, 2015
captioned "Sun TV to invest Rs 450 Crs in
buying movie rights" today.
Sun TV Network shared a clarification
stating, “The Company has always been
buying satellite broadcast rights from film
producers to provide content for our various
programming initiatives for the past several
years. In that sense, the above news item is
about a routine activity and does not
constitute something new or extra ordinary.
The amounts spent on purchase of satellite
broadcast rights have been around the same
ball park for the past couple of years and
appropriately disclosed in annual accounts.”
“Since we believed bona fide that any
disclosures about the amount allocated for
purchase of movie broadcast rights are
routine in nature, it does not qualify under
clause 36 of the Listing Agreement,” the
statement added.
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sam said:
surya tv too.:tup :k
Rahulan Raj
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Is this an eyewash ?? Diverting from major case :huh