HYDERABAD: In a surprise move, the popular Maa Television Network and leading media and entertainment company, Star India, on Wednesday announced a deal under which the latter will acquire the broadcast business of the former. However, Maa TV owners, industrialist Nimmagadda Prasad, Rajya Sabha member Chiranjeevi and actor Nagarjuna, will not completely exit the company. As per the agreement, Maa Network’s four channels — Maa TV, Maa Movies, Maa Music and Maa Gold — will soon be broadcast under the Star brand. Neither side disclosed financial details of the transaction.
“Six to seven years ago, Maa TV was a struggling channel and to get to where we are now, has been an incredibly successful journey. I’m very pleased to announced that Maa will be a part of global enterprise Star group, who will continue to take this journey forward,” said Nimmagadda Prasad, chairman, Maa TV.
The deal will come into force after due compliance with government and RoC guidelines. Uday Shankar, CEO, Star India, said, “We have been communicating with Maa TV group for a long time and its achievement has been phenomenal in the Telugu market. Given the strength Maa TV has the world over, it is a great opportunity for us to take over Maa.”
Without giving any reasons for the sale, Prasad said, “All good things must make way for better things ... just like how we love our daughter, but eventually have to marry her off, we have taken the decision to hand over our broadcast business to the trusted hands of STAR.”
Uday Shankar also clarified that Star has no plans to take popular shows on Maa off air. “Obviously, we will have our own team that will decide the content but I don’t see why popular shows will not continue. The Telugu market is the country’s second largest market but the pace of innovation has been slow. We are keen to change this by acquiring a local presence and fundamentally change the content quality paradigm,” he said.
Actor Nagarjuna, who hosts the Telugu version of Kaun Banega Crorepati on Maa TV, said there are no plans of discontinuing the show. “We’re yet to finalise the next season. We will find out soon,” he said.
