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My Home to acquire yet another media house?

My Home to acquire yet another media house?

My Home Group, headed by industrialist and real estate tycoon Jupalli Rameshwar Rao, who has been acquiring one media house after the other in Telangana, is now all set to take over yet another popular newspaper and its associated television channel in Hyderabad.

According to highly placed sources, the media house, which is known for its blatant pro-Telugu Desam Party stand and has been critical of the Telangana Rashtra Samithi and YSR Congress party governments in Telangana and Andhra Pradesh respectively, has struck a deal with the My Home Group for a whopping Rs 700 crore.

In all probability, the deal will formalized in a week or two and the negotiations are in their final stages.

“If this media house is also acquired by My Home Group, there is hardly anybody who can question the ruling party, at least in Telangana,” a source said.

It is a known fact that Rameshwara Rao is closer to TRS president and chief minister K Chandrasekhar Rao and in fact, there is a talk that it is KCR who is indirectly taking control over the media houses one after the other through My Home Group.

Already, the group has taken over two popular channels – TV9 and 10TV and is said to be in the process of acquiring major stakes in another popular channel NTV.

However, the group has so far not laid its hands over the print medium. If the latest acquisition materializes, it will be foraying into the print medium as well.

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Tags: YSRCP Telangana Andhra Pradesh My Home media house