STAR INDIA Buys Out MAA TV
Mumbai / Hyderabad, February 11th 2015 Global media mogul Rupert Murdoch-owned Star India agreed to buy stake in the broadcast business of Maa Television Network which is a leading popular Telugu entertainment network.Acually this Maa is owned by Telugu actors Chiranjeevi, Nagarjuna, producer Allu Arvind and businessman Nimmagadda Prasad.Officials of Star India confirmed that they are stake holders now in regional TVChannel.but the investment details and other things in this are yet to be known.
There are four channels namely, Maa TV, Maa Movies, Maa Music and Maa Gold under the name of Maa Network. Maa Tv conducted a bid so that they can develop their financial strength and expansion is also possible with this.All the employees who are presently working in Maa nework would remain with their responsibilties as Star India is not going to control that aspect. But logo of Maa TV will change attractive ‘Maa-Star’ logo which integrates the business of Maa with business of Star India.
“The Telugu market is an impotant market however the pace of innovation has been slow.We are keen to change this by acquiring a local presence,”said Uday Shankar,CEO,Star India.”We were very impressed by the solid creative core and quality and depth of the management team at Maa Network.In a short span of time they have built a leading business which is poised to take the next leap.The acquisition fills a vital gap in our portfolio,allowing our advertisers targeted access to a critical market.”
Maa has strong trajectory of growth driven by fiction content and movies.With an expansion into regional markets like Bengal with Star Jalsha,this increased the quality of the underserved regional markets. In the category of Sports – Star took cricket,repackaging of Kabaddi and the launch of a football revolution with Indian Super League. Coming to entertainment content Star is with “nayisoch” or progressive drama and “Satyamev Jayate”. With the expansion into the Telugu market Star looking to develop the innovation in content which improves quality too.
In 2012,there was a news that Sony is signing a deal with Maa to hold stake in the channel. At national level, Sony, Star, Zee and even Sun Network are competing strongly with each other to hold stakes in local networks. But the deal is going to be signed by STAR now instead of SONY.