Karunanidhi

Chennai, Nov. 7: DMK chief M. Karunanidhi’s family has sold all its shares in Sun TV and allied publications, thus distancing the party from southern India’s largest television network.

The DMK president’s surprise announcement today boosts his image in two ways in the run-up to the Assembly elections in Tamil Nadu.

One, by giving up its stake in the profit-making network, which had been drifting apart from the DMK in recent months, his family has shown itself as putting party interests above its own.

Two, Karunanidhi declared that a part of the money from the share sales would go towards charity, thus giving the party a pro-poor gloss.

“My wife was holding 20 per cent shares in Sun TV, Kungumam (a Tamil weekly) and other magazines (owned by Sun Network). She has very amicably relinquished her shares and received the proceeds,” Karunanidhi told a meeting of district secretaries, attended by top party leaders including his son M.K. Stalin.

“After allocating a sufficient amount towards income tax, she has divided the total proceeds and given me a portion? a sum of Rs 10 crore by way of a cheque.”

The DMK chief said he had used Rs 5 crore from it to set up the Kalaignar Karunanidhi Charitable Trust. The monthly interest of about Rs 2.5 lakh from the amount will be spent on the development of the Tamil language as well as medical treatment, marriage and education of the poor.

Though he didn’t say anything about other family members’ stakes in the company, a party source confirmed they too have sold their shares.

Sun TV was an initiative of the late Union minister and DMK leader Murasoli Maran, Karunanidhi’s nephew. The Sun Network, a closely held unlisted company, is one of India’s largest TV networks with its 13 channels, four FM radio stations, four magazines and two newspapers. Its annual turnover is estimated at over Rs 600 crore.

Karunanidhi had often aired his differences with Sun TV’s news coverage. The rift widened after Murasoli’s death, though Karunanidhi and Stalin have excellent relations with Union communications and IT minister Dayanidhi Maran, a party leader and Murasoli’s son. The company is run by Kalanidhi Maran, Murasoli’s elder son.

Kalanidhi declined to comment. Other company sour-ces denied any political implications in the share sales, describing it as a “family decision”. The development leaves the Maran family as sole stakeholders in the network.

The DMK district secretaries, in a resolution, saluted Karunanidhi for his “extraordinary generosity” in giving up a part of his family’s income for a public cause, thus showing his “unshakable commitment to the party”.