Sony to buy ETV’s channels

Sony to get larger share in the regional area with the enormous media deal ever for $500 – 600 million in the Multi – Screen Media (MSM) that runs Sony Television in India is making preparations to purchase Eenadu TV owned by Ramoji Rao which has a set of 11 regional channels under its name.

As per the information given by various reliable sources, the talks are at their superior levels an announcement might also be made shortly. It is guessed that the deal may anywhere near to $ 500 -600 million which is Rs .2,250 – 2,400 crores in Indian currency which will overshadow any of the business deals done so far like Disney’s premeditated venture in UTV, Turner’s purchase of NDTV imagine from New Delhi Television and coming together of Viacom and Network18 presently functioning under CNBC Indian version.

If this deal is successful it will give Sony a larger regional platform to take over its counterparts like STAR and Zee, ETV infotainment channels are spread even across the Indian Diaspora spread throughout US apart from making their presence known in India. ETV’s channels have a very fascinating method of mixing up entertainment and news through channels like ETV Telugu, ETV Bangla and ETV Gurjarati each of which have different sources of entertainment for the public.

MSM spokesperson has stated that the company is to not remark on the speculations going on in the market and the Eenadu Group’s Managing Director, Kiron Rao, Son of Ramoji also did not reply to the email queries.

If Sony purchases the TV business, Ushodaya Enterprises, publisher of flagship, Eenadu the largest selling Telugu newspaper will get all the money that will help Eenadu marketers to redeem their shares and debentures that will leave Kampani, one of the investors a choice to exit the Ushodaya Enterprises board.

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