Shares of Sun TV Network spurted today after it announced that it has signed a deal with the Tamil Nadu Arasu Cable TV Corporation, a Tamil Nadu Government undertaking, to distribute its bouquet of channels.
A company official replying to media queries on TV said the deal would strengthen the reach of the network. But he declined to give the details of the agreement as to the revenue sharing pattern or the expected increase in turnover.
In a communication to the stock exchanges, Sun TV Network said that it has concluded an agreement with the Tamil Nadu Arasu Cable TV Corporation, which is engaged in the business of providing signals to cable operators in the State.
The agreement will enable the total availability of the company’s channels on all cable TV distribution systems run by Arasu Cable across the State with immediate effect.
The new arrangement will “facilitate in further enhancing the competitive positioning’’ of the network’s programmes and it will also earn additional subscription revenue in the State.
On the NSE, shares of Sun TV Network spiked by Rs 16.65 or 6.49 per cent to Rs 273.20 with a huge trading volume of 30.11 lakh shares within the first hour of trading today.
Source: http://cablequest.org/news/cable-news/item/334-sun-tv-shares-spurt-over-deal-with-arasu-cable.html
Source: http://cablequest.org/news/cable-news/item/334-sun-tv-shares-spurt-over-deal-with-arasu-cable.html
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