One of the renowned broadcasting networks, Star india is going to acquire the broadcast business of MAA televsion network. The aquisition would give star india access to the highly attractive Telugu TV market (The second largest regional market in india in terms of revenue potential) and a market where star has a very limited presence till date. Star actors Chiranjeevi and Nagarjuna are the board members will continue as board members.
” The Telugu market is an important market however the pace of innovation has been slow. we are keen to change this by acquiring a local presence nad fundamentally changing the content quality paragdigm.We were very impressed by the solid creative core and quality and depth of management team at MAA Television network, in a short span of time they have built a leading business which is poised to take the next leap. The aquisitionj fills a vital gap in our portfolio allowing our advertisers targeted access to a critical market” said Uday shankar, CEO, star india.
” We see a lot of synergies and complementary strengths emanating from the strategic deal and it will be a win and win proposition for MAA and Star. Telugu TV viewers will stand to gain significantly from this intiative through greatest access to a wide variety of qualitative entertainment content”. Nimmagadda Prasad said, Chairman of MAA television network.
Star india logo will replace MAA logo after the strategic deal will come into effect upon complying with the necessary regular formalities and the broadcast business of MAA Tv will be integrated with the business of star india, once the policies and procedures on the acquired broadcast business of MAA TV are aligned with those at star india.