MAA TV, the company, will remain with its promoters - Prasad actor-turned-politician Chiranjeevi and his relatives and actor Akkineni Nagarjuna. The deal will come into effect upon complying with the necessary regulatory formalities and the broadcast network of MAA TV, as well as its assets, will be integrated with STAR India’s business. “The acquisition fills a vital gap in our portfolio, allowing our advertisers targeted access to a critical market,” STAR India chief executive Uday Shankar told the media here on Wednesday. MAA TV Chairman Prasad said last year, the company’s market share was the 16th highest nationally and the highest in Andhra Pradesh and Telangana. So far, STAR didn’t have a Telugu channel under its fold. The MAA TV acquisition gives STAR access to the Rs 2,000-crore Telugu television market, India’s second-largest regional TV market in terms of revenue. Prasad, an entrepreneur, had earlier sold Matrix Labs to Mylan. In 2007, MAA TV, which commenced operations in 2002, was acquired by Nimmagadda Prasad and his associates. It is estimated the promoters of MAA TV have invested about Rs 130 crore in the network so far. MAA TV has four Telugu entertainment channels - MAA Gold, MAA Music, MAA Cinema and MAA General Entertainment.
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