A direct fallout of the Ministry of Home Affairs has denied security clearance to companies under the Sun Network, restricting them from participating in Phase III e-auction of private FM Radio channels. However, they will not immediately seal the fate of the 33 channels which have also been denied security clearance by the ministry.
The action is in consideration of the future course of action based on the home ministry's decision. If the government decides to cancel Sun TV Network's licenses due to promoters' alleged involvement in cases involving bribery, money-laundering and an illegal telephone exchange, their channels may have to go off air immediately, leaving thousands of employees uncertain about their jobs, to say nothing about the losses to shareholders, quotes leading daily.
The empire is backed with a combination of business interests and political connections. Sun is owned by billionaire Kalanithi Maran who is known for maintaining a low profile, even in the current storm that surrounds the group.
