Sunshine while Sun shines

Chennai-based media tycoon Kalanidhi Maran is a combination of a political and corporate success story. Though his detractors largely attribute his success to his political lineage, his entrepreneurial story has more to it. But there is no doubt that the current election results will determine the direction his script goes in future. Not content with the leadership status that his Sun TV has built up in the South, Kalanidhi is intent on taking his media empire to another level. The low-profile tycoon is currently weighing his options over the use of Rs 602 crore that he has raised from the market recently. He is not only looking at launching new TV and FM channels but has embarked on an ambitious Direct-to-Home (DTH) initiative, which analysts feel will be the key to his long-term success in the viewership game. In fact his hold over the southern TV audiences is built around his vice-like grip over the cable TV networks in the region. The tycoon desperately worries that DTH will be an important cog in his distribution wheel in the days to come. He also knows that speed is of essence as competent competitors like Subhash Chandra are already there. Given the Tatas’ publicly-stated adamant unwillingness to allow Kalanidhi to enter Tata-Star DTH JV, the tycoon will soon have to find a new partner. As the second-largest TV broadcaster in the country who also owns FM radio channels, Tamil newspapers and magazines, and valued at a phenomenal Rs 9,000 crore, Kalanidhi is a big boy. But the fate of big brother Dayanidhi and his future in the IT & Communications Ministry may define, pretty soon, how brightly the sun will continue to shine.

Cannon for economy

Naveen Jindal known as much for his business interests as his political aspirations, and most of all for his passionate defence of citizen’s right to hoist the national flag. These days however the steel tycoon seems rather engrossed in his biz interests. Knowing fully well that the beeline for iron ore mining leases in the country would soon lead to an ‘ore scarce’ situation, Naveen has begun looking overseas for new mining assets. The tycoon’s Jindal Steel & Power has now set its eyes on the El Mutun Mine in Bolivia, one the largest iron ore deposits in the world. Naveen has submitted his bid for the mine that is estimated to have more than 40 billion tones of reserves, and valued at more than $1 billion. Though the reserves are said to be of medium quality mineral grading 50 per cent, the size of the deposit make it one of the most sought after in Latin America. But Naveen needs to outbid three other serious bidders. Interestingly, the confident tycoon has made a solo bid for El Mutun and didn’t feel the necessity of associating any of his group companies. Though his proposed steel plants entailing investments of Rs 13,500 crore and Rs 11,500 crore in Orissa and Jharkhand respectively have back up mining leases, observers believe, the tycoon is intent on building up a surplus ore capacity to support his other expansion plans.

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