Kalanithi Maran

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Kalanithi Maran
Kalanithi Maran (cropped).jpg
Born (1964-07-24) 24 July 1964 (age 60)
Chennai, Tamil Nadu, India [1]
Alma mater Loyola College, Chennai
University of Scranton
Occupation Media proprietor
Known for Founder & Chairman of the Sun Group
SpouseKavery Maran
Children Kavya Maran
Father Murasoli Maran
Relatives Dayanidhi Maran (brother)

Kalanithi Maran (born 24 July 1964) is an Indian media proprietor. He is the chairman and founder of Sun Group, one of India's largest media conglomerates. [2] [3] [4] He owns multiple television channels, newspapers, weeklies, FM radio stations, DTH services, a movie production house (Sun Pictures) and 2 cricket teams (Sunrisers Hyderabad in the Indian Premier League and Sunrisers Eastern Cape in South Africa T20 League). [5] He also held a major share in the Indian airline SpiceJet from 2010 to 2015. [6] [7]

Contents

Career

Kalanithi Malan went to the United States for an MBA degree at the University of Scranton in Pennsylvania. He was fascinated by the amount of channels available there, whereas India still had one television channel, part of the Doordarshan monopoly. Upon completing his MBA, he returned to India in 1987 working for his family's small publishing company, which included a weekly women's magazine. In 1990, Maran started a monthly video magazine in Tamil called Poomaalai. For every copy given to a public library, about 200 pirated copies were produced. The primary market of Poomaalai was Sri Lankan Tamils who fled to Europe. [8] On 14 April 1993, he founded Sun TV. [8] [9] Sun TV was listed on the Bombay Stock Exchange on 24 April 2006 upon raising $133 million for 10% of the share capital, catapulting him into the billionaire charts. [10] [11] He was among the few representatives at a roundtable with the visiting then US President Bill Clinton. [12]

He has won Young Businessman awards from CNBC and Ernst & Young, [13] and Forbes magazine named him the "Television king of southern India". [14]

Under his leadership, channels owned by the Sun TV Network became some of the most popular and successful channels in South India. Sun TV was also the first channel in the country to set up its own earth station. [12]

In June 2010, he acquired a 37% stake in SpiceJet from billionaire investor Wilbur Ross and promoter Bhupendra Kansagra, in his individual capacity and through his aviation company KAL Airways. He also put up an open offer for 20%, which increased his stake to more than 50%. [7] [15] [16]

Maran and his wife Kavery were ranked the highest paid business executives in the list of Indian executive pay charts with a package of ₹62 crore (US$7.3 million) each in 2014. [17]

On 24 February 2015, he sold his stake in SpiceJet to Ajay Singh, the co-founder of the airline, as a part of an reconstruction and revival scheme since the airline was facing huge losses. [18] [19]

In 2023, he was the 77th richest Indian, with a net worth of US$3 billion. The same year, his production house Sun Pictures produced the Tamil movie "Jailer" starring south Indian star Rajnikanth, which went on to be one of the best performing films of 2023. [20]

Personal life

Kalanithi was born to former Union Minister Murasoli Maran in Chennai, Tamil Nadu, on 24 July 1964. [1] He is also the grand-nephew of former Tamil Nadu chief minister M. Karunanidhi. He has a younger brother, Dayanidhi Maran was also a union minister. Kalanithi Maran married Kavery, a native of Kodagu. They have a daughter named Kaviya Kalanithi Maran, who is now the CEO of both his cricket franchises, Sunrisers Hyderabad in the Indian Premier League and Sunrisers Eastern Cape in South Africa T20 League. [21] [22]

He did his schooling in Don Bosco, Chennai. He graduated in commerce from Loyola College, Chennai. He did his MBA from University of Scranton. [23] As of 2023, his net worth is US$3 billion. [24]

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References

  1. 1 2 "Kalanithi Maran: Movies, Photos, Videos, News, Biography & Birthday | Times of India". The Times of India . Archived from the original on 10 December 2023. Retrieved 28 May 2024.
  2. ↑ "From cable TV to aviation biz, Maran's march continues". The Financial Express. 13 July 2010. Archived from the original on 9 September 2010. Retrieved 8 August 2010.
  3. ↑ "Sun, Zee remain top on profitability charts". Rediff.com. 31 December 2004. Archived from the original on 15 November 2010. Retrieved 8 August 2010.
  4. ↑ Srikar Muthyala (29 September 2015). "The List of Great Entrepreneurs of India in 2015". MyBTechLife. Archived from the original on 14 January 2016.
  5. ↑ Mishra, Aditya (6 April 2021). "IPL Team Owners. List Of All IPL 2021 Team Owners". Voice of Indian Sports - KreedOn. Archived from the original on 29 May 2021. Retrieved 29 June 2021.
  6. ↑ "Strategic investor crucial for global foray". The Times of India. 6 April 2010. Archived from the original on 3 June 2016. Retrieved 13 September 2010.
  7. 1 2 "Kalanidhi Maran buys 37.7 p.c. stake in SpiceJet". The Hindu . Chennai, India. 13 June 2010. Archived from the original on 24 August 2010. Retrieved 8 August 2010.
  8. 1 2 Karmali, Naazneen (30 November 2009). "Strong Signal". Forbes. Archived from the original on 29 August 2011. Retrieved 8 August 2010.
  9. ↑ "Rediff India Abroad, April 28, 2006 – Kalanithi Maran: A 'Sunshine' story, by Sanjiv Shankaran and S. Bridget Leena in New Delhi". Rediff.com. Archived from the original on 21 May 2011. Retrieved 24 January 2012.
  10. ↑ "Kalanithi Maran emerges a billionaire after maiden IPO" (PDF). Archived (PDF) from the original on 9 November 2014. Retrieved 9 November 2014.
  11. ↑ Iyer, Shilpa Bharatan (25 April 2006). "Sun TV shines on Exchange". Variety . Archived from the original on 28 May 2024. Retrieved 28 May 2024.
  12. 1 2 "Media Personalities – Kalanidhi Maran". Chennai Best. Archived from the original on 12 February 2012. Retrieved 24 January 2012.
  13. ↑ "Welcome To Sun Network". Sunnetwork.org. Archived from the original on 1 September 2010. Retrieved 8 August 2010.
  14. ↑ "#20 Kalanithi Mar". Forbes. 18 November 2009. Archived from the original on 8 August 2010. Retrieved 8 August 2010.
  15. ↑ "New deal to take SpiceJet higher". Business Standard . 15 June 2010. Archived from the original on 7 June 2011. Retrieved 8 August 2010.
  16. ↑ "Shareholding Pattern for March 31, 2014" (PDF). Bombay Stock Exchange . 17 May 2014. Archived (PDF) from the original on 28 May 2024. Retrieved 28 May 2024.
  17. ↑ "Newsmaker: Kalanithi Maran". Business Standard . Chennai. Archived from the original on 19 December 2014. Retrieved 28 May 2024. Media tycoon Kalanithi Maran, who has for years made news for paying himself and his wife the highest salaries in India, is now facing turbulent times
  18. ↑ Mishra, Lalatendu (15 January 2015). "SpiceJet stock price up as ownership changes". The Hindu . ISSN   0971-751X. Archived from the original on 19 October 2022. Retrieved 28 May 2024.
  19. ↑ "How Kalanithi Maran Lost SpiceJet". Forbes India . Archived from the original on 18 January 2015. Retrieved 28 May 2024.
  20. ↑ "Kalanithi Maran". Forbes . Archived from the original on 28 February 2024. Retrieved 28 May 2024.
  21. ↑ "Meet Kalanithi Maran, Kavya Maran's dad whose family salary was Rs 1500 crore, net worth is..." DNA India. 20 April 2023. Archived from the original on 20 April 2023. Retrieved 28 May 2024.
  22. ↑ "MEDIA MARAN". Tehelka. 9 June 2007. Archived from the original on 19 December 2013. Retrieved 22 July 2013.
  23. ↑ "The story of Marans: Sun King and his brother". Business Standard. 30 August 2014. Archived from the original on 28 January 2018. Retrieved 28 January 2018.
  24. ↑ "Kalanithi Maran". Forbes . 30 August 2014. Archived from the original on 23 October 2018. Retrieved 28 January 2018.
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