Thakur
Banned
- Joined
- 30 Aug 2013
- Messages
- 14,856
- Reaction score
- 8,575
MUMBAI: Star India’s acquisition of Telugu broadcast network Maa Television Network has come at a hefty price.
The Rupert Murdoch-controlled company has agreed to acquire the broadcast business of Maa TV Network for approximately $375 million in cash, TelevisionPost.com has learnt.
In February 2015, Star entered into an agreement to acquire the broadcast business of Maa TV but had not revealed the acquisition price.
Maa TV owns and operates four channels, namely Maa TV, Maa Movies, Maa Music and Maa Gold. The acquisition is awaiting regulatory approvals.
The transaction is expected to close by 31 December 2015. It is pertinent to note that Multi Screen Media (MSM) was actively considering buying out Maa TV.
It is believed that MSM had valued Maa TV at $205 million. The company was planning to buy 53 per cent stake in the company for $113 million.
For Star, the acquisition of Maa TV will fill a vital gap in its portfolio. Except Telugu, the broadcaster is present in all key South Indian markets
Read more at:
http://www.televisionpost.com/television/star-to-pay-375-mn-for-acquiring-maa-tv/
The Rupert Murdoch-controlled company has agreed to acquire the broadcast business of Maa TV Network for approximately $375 million in cash, TelevisionPost.com has learnt.
In February 2015, Star entered into an agreement to acquire the broadcast business of Maa TV but had not revealed the acquisition price.
Maa TV owns and operates four channels, namely Maa TV, Maa Movies, Maa Music and Maa Gold. The acquisition is awaiting regulatory approvals.
The transaction is expected to close by 31 December 2015. It is pertinent to note that Multi Screen Media (MSM) was actively considering buying out Maa TV.
It is believed that MSM had valued Maa TV at $205 million. The company was planning to buy 53 per cent stake in the company for $113 million.
For Star, the acquisition of Maa TV will fill a vital gap in its portfolio. Except Telugu, the broadcaster is present in all key South Indian markets
Read more at:
http://www.televisionpost.com/television/star-to-pay-375-mn-for-acquiring-maa-tv/
