Sun TV Network on Friday issued a strong rebuttal following reports of a legal dispute initiated by Dayanidhi Maran, Lok Sabha MP and former Union minister, against his elder brother and company promoter, Kalanithi Maran. The broadcaster, in a regulatory filing said that the separation of business interests between the brothers took place over two decades ago and was carried out in accordance with all legal requirements.
The statement came in response to reports that Dayanidhi Maran has sent a legal notice accusing Kalanithi and others of “fraudulent practices” and “misgovernance” in the control and management of Sun TV after the death of their father, Murasoli Maran, in 2003. The younger Maran is reportedly seeking to reinstate the company’s ownership structure as it stood before September 2003.
Sun TV, currently chaired by Kalanithi Maran, with his daughter Kavya Kalanithi Maran also on the board, refuted the allegations, calling them misleading and defamatory. The company stressed that all relevant agreements were examined and cleared by appropriate legal and financial intermediaries before Sun TV’s public listing.
“The events being referred to date back 22 years when Sun TV was a closely held private limited company. The assertions being circulated are inaccurate, speculative, and lack legal foundation,” the statement said. It further clarified that all actions taken at the time were in full compliance with existing legal obligations and underwent rigorous scrutiny ahead of the company’s public issue.
Sun TV sought to distance the allegations from its corporate operations, categorising the issue as a personal dispute within the promoter family. “The company reiterates that the reports concerning a familial disagreement have no impact on its daily operations or its overall business,” it stated.
The Maran family holds a dominant stake in the media house, with Kalanithi Maran owning 75% of the company. Institutional investors, including mutual funds and insurance companies, collectively hold 10.46%, while foreign portfolio investors account for 6.87% of the shareholding.
The group operates 37 television channels across seven languages, reaching more than 140 million households. Its business portfolio also includes the Sun Direct DTH service, 69 FM radio stations under the Suryan FM, RED FM, and Magic FM brands, as well as several print publications.
Additionally, Sun TV owns and manages prominent sports franchises such as the Sunrisers Hyderabad in the Indian Premier League and Sunrisers Eastern Cape in South Africa’s T20 League.
Financially, the company reported a slight dip in its performance for FY25. Consolidated income declined by 1.55% to Rs 4,712.60 crore, while profit after tax fell by 11.53% to Rs 1,703.64 crore, compared to Rs 1,925.80 crore in the previous year.
After falling as much as 5% during the day, shares of Sun TV Network closed 1% lower at Rs 605.75 on the NSE.