By - { 08/06/10 }

Sun TV’s Kalanithi Maran strikes SpiceJet majority stake deal ??

There was a rumour two months back on South Indian media conglomerate and Sun TV Chief – Kalanithi Maran buying majority stake in budget carrier SpiceJet and heavy weights like Anil Ambani was also in race to pick up the same stake. And, we have some more news on the same now.

Seems, Kalanithi Maran is very close to strike the deal with SpiceJet on picking up the majority stake and the news would be announced anything sooner. Aviation business is totally a new domain for this media tycoon and he hasn’t ventured into business other than media over the past decade. One more interesting fact is he sidelined Anil Ambani in this race and all in his individual capacity.

Sun TV's Kalanithi Maran strikes SpiceJet majority stake deal ??

Well, Sun TV promoter Kalanithi Maran is one of the highest paid CEO in the country with his annual salary package over Rs. 35 crores. Also, his wife Kaveri, another promoter in the Sun TV Network draws the same amount of annual salary and together combined take home over Rs. 70 crores. This is on top of several hundred crores which they pull home every year from dividend of Sun TV stocks.

Now we know how kalanithi maran is able to ink in the deal in his individual capacity. Well, I still don’t know why he wants to enter the aviation business which has a very long break even period.
Categories: deals | media | Mergers and Acquisitions

You may be interested in these articles:

Tagged with: * * * * * * * * * * * * * * * * * * * * * * * * * * * *