August 03, 2015

Press Release No. 1

News about Sun TV Network Limited

The media had reports that "Sun TV to invest Rs.450cr in buying movie rights".

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Sun TV Network Limited vide its letter inter-alia stated that “The company has 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 small ball park for the past couple of years and appropriately disclosed in annual accounts”.