In August this year, Srini Raju, the original promoter of popular Telugu television channel TV9, stepped out of its holding company Associated Broadcasting Company Private Limited, selling away his stakes to local investors and others.
Within hours of the news broke out, ABCL announced that the TV9 Management team under the leadership of its CEO Ravi Prakash had taken over the group with two major international investment funds and local investors.
Though the company did not disclose the names of the local investors, they turned out to be Megha Engineering and Infrastructure Limited (MEIL) promoted by Krishna Reddy and My Home group promoted by real estate tycoon Jupalli Rameshwar Rao.
According to the latest reports, the two investors had shared their territories in the TV9 network.
While My Home Infra would take care of TV9 Telugu channels, the remaining language channels, including TV9 Gujarati, TV9 Marathi and TV9 Kannada, would be looked after by the Megha group.
Thus, My Home will have minor stakes in the channel, while Megha will control pan-India business of TV9.
Interestingly, My Home does not have interests beyond Telangana region. Reason is that he has the backing of Telangana Rashtra Samithi (TRS) headed by chief minister K Chandrasekhar Rao.
So, if Rameshwara Rao has the control over Telugu channel, it is enough to serve the interests of TRS and KCR!