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Sony TV acquires MAA TV !
By: Tupaki Desk | 6 May 2014 10:39 AM GMT
The Sony Pictures Television has decided to take over Maa Television Network Limited. According to the latest buzz in tollywood that Sony Pictures Television (SPT) more popularly known as Sony TV acquired MAA TV channel for a very huge amount. According to sources the deal was inked for Rs 1800 crs and official takeover will be from June, 2nd.
The majority shareholders of the two companies have signed a letter of interest to this effect. The tie-up would enable Sony Pictures or any of its affiliates to acquire 30 per cent equity stake in MAA TV.Commenting on the deal, SPT Indian operations representative Manjit Singh said the alliance would provide strategic opportunities for the two companies.
MAA TV has board of directors like Industrialist Nimmagadda Prasad, Union Minister Chiranjeevi, Allu Aravind and Akkineni Nagarjuna and it was founded in 2002.
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The majority shareholders of the two companies have signed a letter of interest to this effect. The tie-up would enable Sony Pictures or any of its affiliates to acquire 30 per cent equity stake in MAA TV.Commenting on the deal, SPT Indian operations representative Manjit Singh said the alliance would provide strategic opportunities for the two companies.
MAA TV has board of directors like Industrialist Nimmagadda Prasad, Union Minister Chiranjeevi, Allu Aravind and Akkineni Nagarjuna and it was founded in 2002.
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