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Sun acquires Dinakaran newspapers
June 17, 2005 16:05 IST
Sun Network has acquired 100 per cent stake in Tamil publication major Dinakaran, according to an Indiantelevision.com report.
With this, Sun Network controller Kalanithi Maran has entered the newspaper arena. He already has an established presence in television and radio.
Indiantelevision quoted Sun TV vice-president (programmes) Hansraj Saxena as saying: "This is a 100 per cent buyout. We are planning to relaunch Dinakaran in a big manner. This will be Sun's stepping stone into the newspaper space."
The deal was signed between Maran and Dinakaran group chief K Kumaran on June 16. However, the size of the deal has not been disclosed. According to the deal, all the Dinakaran group publications -- including Tamil dailies Daily Thanthi and Dina Malar -- will now move to Sun, said Indiantelevision. Presently, Dinakaran is the third largest daily in Tamil.The Dinakaran group was promoted by the late K P Kandasamy, K Kumaran's father.