Associated Broadcast Company Limited (ABCL) had been operating various channels under the brand TV9. CARE's Ratings disclosed ABCL earned a revenue of Rs 200 crore for the financial year 2017-18. Holding No.1 Position in the Telugu States and Karnataka is the reason behind the high earnings.
Alandha Media acquired 90.5 percent stake in ABCL last year. This Firm made headlines recently with the forgery case it filed against former TV9 CEO Ravi Prakash.
'CARE BBB, Stable' Rating was given to the Rs 25 crore long pending bank loan obtained by ABCL. For Rs 15 crore short term Bank Loan, A3 Rating was offered by CARE. Experienced Management, Financially Sound Promoters & No.1 Position in all major languages fetched better ratings on Bank Loans.
In the financial year 2018-19, Chinthalapati Holdings and ILABS Venture Capital Fund sold out their 90.5 percent stake to Alandha Media. Hyderabad-based My Home Group and Megha Engineering & Infrastructure Limited (MEIL) promoted Alandha Media.