Maran brothers’ feud resolved through mediation by CM MK Stalin, journalist N Ram
The resolution comes at a critical time, as the conflict had triggered volatility in Sun TV Network’s share value, impacting investor confidence
The high-profile dispute between the Maran brothers – Kalanithi Maran, chairman of Sun TV Network, and Dayanidhi Maran, a former Union Minister and DMK parliamentarian – has been resolved following mediation by Tamil Nadu Chief Minister MK Stalin and senior journalist N Ram.
Also read | Sun TV legal battle between Kalanithi, Dayanidhi Maran explained
The settlement brings closure to a family and corporate conflict that rattled Tamil Nadu’s political and business spheres, with sources indicating that Kalanithi Maran agreed to address the demands and queries raised by his brother, Dayanidhi, to restore harmony. The resolution comes at a critical time, as the conflict had triggered volatility in Sun TV Network’s share value, impacting investor confidence.
The Maran brothers, sons of late Murasoli Maran, a prominent DMK leader and nephew of former Chief Minister M Karunanidhi, are central figures in Tamil Nadu’s political and media landscape. Their family’s influence spans the Dravida Munnetra Kazhagam (DMK) and Sun TV Network, a media conglomerate founded in 1993 that dominates regional television and entertainment.
‘Premeditated fraud’
The feud erupted publicly last month when Dayanidhi issued a legal notice on June 10, accusing Kalanithi of orchestrating a “premeditated fraudulent scheme” in 2003, shortly after their father’s death.
The notice alleged that Kalanithi allotted himself 1.2 million equity shares in Sun TV at a nominal value of Rs 10 each, despite their market value being Rs 2,500–3,000, without the consent of other shareholders, including their mother, Mallika Maran, sister Anbukarasi, and the Karunanidhi family.
This move allegedly diluted the family’s stake, enabling Kalanithi to secure a 75 per cent ownership in the company, now valued at over Rs 24,400 crore. Dayanidhi further claimed financial improprieties, including Kalanithi’s wife, Kaveri Maran, drawing an annual salary of Rs 87.5 crore and the use of Rs 174 crore in dividends to acquire stakes held by M Karunanidhi’s widow, MK Dayalu.
Drop in stocks
The public dispute led to a 4 per cent drop in Sun TV’s stock price, with the conflict’s escalation causing further fluctuations as investors reacted to the uncertainty surrounding the company’s governance.
Also read | Maran vs Maran: Dayanidhi threatens to shut down Sun TV channels, Sunrisers IPL team
Sources close to the matter revealed that Kalanithi Maran, under pressure to resolve the feud, carefully considered the demands and queries raised by Dayanidhi. These included addressing the alleged share dilution and ensuring transparency in the company’s financial dealings.
Mediation process
The mediation process, spearheaded by CM MK Stalin, his son and Deputy CM Udhayanidhi Stalin, and sister Anbukarasi, with N Ram’s involvement, facilitated constructive dialogue.
While the specifics of the settlement remain confidential, sources suggest it may involve financial adjustments or a restructuring of stakes within Sun TV Network to address Dayanidhi’s concerns.