Sun TV Network Limited which runs the channel Udaya News in Karnataka has decided to shut down its operations with effect from October 24, 2017.
The letter dated August 24, 2017, addressed to the Secretary to the Government of Karnataka states, “We hereby inform you that we have decided to close Udaya News with effect from 24th October 2017.”
A copy of the letter has been marked to The Commissioner of Labour, the Regional Deputy Labour Commissioner and the Assistant Director Sub-Regional Employment Exchange.
The letter further states that the number of employees whose services stand to be terminated on account of closure of the undertaking is 73.
Detailing the reasons for closing down Udaya News, the letter says that Sun TV has been operating the channel for the past 19 years and had pumped in significant amounts to grow the news division in the Karnataka market.
However, the letter says, “Despite our best efforts, the news division has been incurring substantial losses over the past couple of years. Further given the competition Udaya News has faced, the viewership share of Udaya News is also relatively low, and that has further worsened the situation.”
Among the Kannada news channels, TV 9 tops the TRP charts followed by Public TV and Suvarna News.
The letter goes on to say that Sun TV is forced to close down Udaya News division for business reasons due to insurmountable losses that have accumulated and continue to be incurred.
Udaya News is the oldest news channel in Kannada.
Sun Network operates a host of Kannada channels including Udaya TV, Udaya Music, Udaya Comedy and Chintu TV.