Man City, Yankees Partner On MLS Team Hertha To Increase Spending To $87.7M Pune Warriors Withdraw From IPL Tape Of Rangers' Chair Leaked Storm's New Owners Revealed Valencia VP Details Plans To Improve Club Emotional Swing For Relegated Wigan BMW Denies Comeback Claims By Ecclestone Duisburg Threatend With Bankruptcy IPL Spot-Fixing Hasn't Impacted Brand
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
SBD Global/October 26, 2012/Franchises
Indian Media Corporation Wins Bid For Deccan Chargers
Published October 26, 2012
OPPORTUNITY TO STAY: In Chennai, Nandakumar Marar reported '12 Deccan Chargers players "will be available to the new franchise owner." BCCI President N Srinivasan said, "All players of Deccan Chargers are available to the new franchise. They have signed agreements, and the new owner will have time til October 31, 2012 to decide whom they want to retain." Players will not have to worry about payments. He said, "As far as the player is concerned, their interest is completely protected and have also been paid for the last year." Sun TV Network "has an extensive media business, with interests in newspaper and TV across many states." Srinivasan said, "It (Sun Group) is a very credible franchise owner. They will add a lot of value to the league" (THE HINDU, 10/25). The PTI noted Sun TV Network CFO S L Narayanan said that the new franchise "had a fine set of Deccan Chargers cricketers" from which it can choose. Narayanan said, "What BCCI has advised us is that at our option we could retain the entire team. We also have opportunities to get more players." He added, "It's a great team, but we will decide on the actual composition of the team and support staff in the next few days. We are very excited" (PTI, 10/25).
MAKING A NAME: The PTI reported new owner Kalanithi Maran "has come a long way from being a student leader" at Loyola College in Chennai to now being South India's biggest media baron. The 48-year-old, who is the son of former Union Minister for Commerce Murasoli Maran and elder brother of former union textiles Minister Dayanidhi Maran, was chairman of Loyola's student wing, which had taken up the cause of Tamil people based in Sri Lanka in the mid-80s. According to Forbes, the Sun TV Network owner is currently "24th in the list of richest Indians." The "media moghul" has diverse business interests "from owning TV channels to having a sizeable stake in SpiceJet airlines," as well as venturing into satellite TV service and two Tamil newspapers. His company is also "into Tamil movie production, as Tollywood "is one of the biggest" film industries in the world (PTI, 10/25).