Star India, a fully owned subsidiary of Rupert Murdoch’s 21st Century Fox, is to acquire Hyderabad-based Maa Television Network and its four channels in a deal valued at Rs 2,400 crore.
The money will go to N Prasad, Chiranjeevi (politician), A Nagarjuna Rao (film star) and other co-promoters of Maa TV. The 100 per cent buyout is subject to performance targets set for March 2015. Assuming it goes through, the deal adds an estimated Rs 300 crore to Star India’s top line and about Rs 100 crore to its bottom line.
Star will gain Telugu language channels: MAA Gold, MAA Music, MAA Cinema and MAA General Entertainment.
The deal is expected to close in three to four months time.
India, Mumbai & Hyderabad
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