MUMBAI: It seemed like a juicy development. And it appeared to be factual because it was being published in one of the few publications, which has some credibility left - The Hindu Business Line. Sun TV is acquiring TV9 for Rs 150 cr, read the headline. Now the Sun TV group, venture capitalist Srini Raju who owns a majority stake in ABCL (the holding company of the TV9 channels) and TV9 have come out vociferously against the report. While Sun TV’s CFO SL Narayan has termed the news item as total rubbish, venture capitalist Srini
Raju has said that it was totally false. “Sun TV group never approached me with such an offer, and there’s not an iota of truth in it,” Raju told Mint, from the Hindustan Times stable, a short while ago. The TV9 senior management has termed it as totally speculative, saying there are no talks with Sun Network for a stake sale. A company spokesman clarified to indiantelevision.com that, “at no point of time were any talks held with Sun Network. It is totally wrong to speculate on the price of Rs 150 crore which is only a fraction of our annual turnover. Any person with knowledge of such deals would naturally appreciate that companies are not sold for fractions of their turnover but are sold in multiples of their annual turnover.” source Indian Television Dot Com > News Headlines > TV9. SunTV deny that there is any talk of a sale
Raju has said that it was totally false. “Sun TV group never approached me with such an offer, and there’s not an iota of truth in it,” Raju told Mint, from the Hindustan Times stable, a short while ago. The TV9 senior management has termed it as totally speculative, saying there are no talks with Sun Network for a stake sale. A company spokesman clarified to indiantelevision.com that, “at no point of time were any talks held with Sun Network. It is totally wrong to speculate on the price of Rs 150 crore which is only a fraction of our annual turnover. Any person with knowledge of such deals would naturally appreciate that companies are not sold for fractions of their turnover but are sold in multiples of their annual turnover.” source Indian Television Dot Com > News Headlines > TV9. SunTV deny that there is any talk of a sale
