PTI

MUMBAI, Nov 27: Sun TV is all set to become one of the largest television broadcasters with its amalgamation with Gemini TV and Udaya TV.
 
The Board of Directors, at its meeting, on Monday approved the amalgamation of Gemini TV and merger of all divisions of Udaya TV Pvt Ltd except the FM Radio Division with Sun TV, the company informed the Bombay Stock Exchange.
 
"With this proposed merger, Sun TV shareholders should benefit immensely from the highly profitable operations and strong growth plans of both Gemini TV and Udaya TV," Sun TV Chairman and Managing Director Kalanithi Maran said.
 
Sun TV Ltd will have an integrated growth strategy for all south Indian language channels, and thus build a dominant presence in entire south India, Maran added.
 
Sun TV operates the television channels Sun TV, KTV, Sun News and Sun Music in Tamil; Surya TV and Kiran TV in Malayalam; three FM radio stations, and another three FM radio stations through subsidiaries.
    
The subsidiaries of Sun TV -- Kal Radio Ltd and South Asia FM Ltd, jointly hold 41 FM radio licences for FM radio stations across India.
 
Gemini TV owns Gemini TV, Teja TV, Gemini News, Gemini Music and Gemini Cable Vision and is operating with a revenue of Rs 174.6 crore for the year ended March 31.
 
Udaya TV owns four television channels -- Udaya TV, Udaya Movies, Udaya Varthegalu and Udaya TV II, and is operating with a revenue of Rs 94.3 crore for the year ended March 31.
 
The board has appointed Enam Financial Consultants Pvt Ltd and DSP Merrill Lynch Ltd as advisors.