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Tag: Nimmagadda Prasad

  • Star India gets FIPB nod for Maa TV investment; Jhakaas & Eros proposals deferred

    Star India gets FIPB nod for Maa TV investment; Jhakaas & Eros proposals deferred

    NEW DELHI: Star India has received permission for investing Rs 2500 crore in foreign direct investment in expanding its growth in the country. The approval by the Foreign Investments Promotion Board (FIPB) includes acquisition of the broadcasting business of Maa TV – engaged in broadcasting sector on a slump sale basis.

     

    A source in Star India told Indiantelevision.com that this meant acquisition of software and liabilities of Maa TV and not a take-over of the company.

     

    As was reported by this website earlier in February, Star India said it will acquire Maa Television Network’s four Telugu channels namely Maa TV, Maa Movies, Maa Music and Maa Gold. “Star will acquire all assets of Maa TV including broadcasting rights subject to regulatory approvals. After the approvals, Maa TV will become part of Star network. We do not have any Telugu channel in our portfolio,” Star India CEO Uday Shankar had then said.

     

    Maa TV group is owned by industrialist Nimmagadda Prasad, Rajya Sabha member Chiranjeevi and actor Nagarjuna.

     

    In addition, Star India has received the nod from FIPB for further issuance and transfer of shares to its foreign collaborator.

     

    Meanwhile, the FIPB once again deferred the proposal by INX Music to undertake the additional activity of broadcasting of a non-news and current affairs channels in various Indian languages. As proposed scheme of arrangement, the 9X Jhakaas Marathi channel shall be merged into INX Music, a company which aggregates and distributes music content for TV channels, having 70.85 per cent indirect foreign investment.

     

    Additionally, Eros International Media’s proposal for making downstream investment by way of acquisition of shares of an Indian company for non-cash consideration, that is, by issuance of shares of the applicant company to the existing shareholders of the investee company has been deferred.

     

    Today Magazines Lifestyle Private Limited received approval for Rs 2.05 crore foreign investment of 49 per cent by Cooperatief International Publications Holding through transfer and further issue for an aggregate consideration.

     

    Approval has also been given to Indium IV (Mauritius) Limited through India Value Fund IV for an investment of up to Rs 200 crore in an Indian company – Atria Convergence Technologies engaged in providing internet services. The two companies together propose to invest in the capital of Atria in excess of 49 per cent up to 100 per cent by subscribing to equity or compulsorily convertible preference shares or fully convertible debentures.

  • Star India acquires broadcast business of Maa TV

    Star India acquires broadcast business of Maa TV

    MUMBAI: Star India has acquired the broadcasting business of Maa Television Network. The company operates four Telugu channels namely – Maa TV (Telugu general entertainment channel), Maa Music (music channel), Maa Movies (movie channel) and Maa Gold (youth channel) – which offer an opportunity for creative content innovation in the Telugu television market.

     

    Pertinent to note here is that in 2007 Star had inked a joint venture with Balaji Telefilms to enter the Telugu market. Plans were to float a separate company for a Telugu language channel. However, the JV between the two companies ended in 2008. Star has now finally made its entry by acquiring the broadcast business of Maa TV, which industry sources peg at approximately Rs 1000 crore.

     

    Also interesting to note is that in 2012, Sony Pictures Entertainment (SPE) had entered into a strategic deal with Maa Television Network to pick up a 30 per cent stake, which however didn’t see the light of day. Nonetheless negotiations were on between the two companies and it seems as if Star has now pipped Sony in the acquisition race.

     

    The acquisition will give Star India access to the highly attractive Telugu TV market (the second largest regional market in India in terms of revenue potential), where it has a very limited presence till date. Maa Television Network is the number one broadcast network in Telugu language content and has a strong trajectory of growth driven by fiction content and movies.

     

    The strategic deal will come into effect upon complying with the necessary regulatory formalities and the broadcast business of Maa TV will be integrated with the business of Star India, once the policies and procedures in the acquired broadcast business of Maa TV are aligned with those at Star India.

     

    With the expansion into the Telugu market Star looks to continue its tradition of innovation in content, building on the strong track record established by the team at Maa Television Network.

     

    “The Telugu market is an important market however the pace of innovation has been slow. We are keen to change this by acquiring a local presence and fundamentally changing the content quality paradigm. We were very impressed by the solid creative core and quality and depth of the management team at Maa Television Network. In a short span of time they have built a leading business which is poised to take the next leap. The acquisition fills a vital gap in our portfolio allowing our advertisers targeted access to a critical market,” said Star India CEO Uday Shankar.

     

    “The strategic decision to align with Star India and be part of a global media group will be a big leap in our efforts to take the Maa TV Network to the next level and strengthen the positioning of Maa brand in the entertainment industry. Star’s leadership in Indian media and entertainment industry and its parent company’s proven expertise in media business on global scale will enable Maa to offer more innovative, rich and differentiated entertainment content to the Telugu Diaspora worldwide,” added Maa Television Network chairman Nimmagadda Prasad.

     

    “We see a lot of synergies and complementary strengths emanating from the strategic deal and it will be a win-win proposition for Maa and Star. Telugu TV viewers will stand to gain significantly from this initiative through greater access to a wide variety of qualitative entertainment content,” Prasad concluded.

  • Meelo Evaru Koteeswarudu season one to culminate on 7 August

    Meelo Evaru Koteeswarudu season one to culminate on 7 August

    MUMBAI: Meelo Evaru Koteeswarudu (MEK), the game show that has been enthralling the audience like never before in the history of Telugu Television, is all set to offer another visual treat to the viewers with Tollywood Megastar Chiranjeevi gracing the 40th episode of the show as the guest, along with the host Nagarjuna Akkineni.

     

    It is a rare occasion where both of them have come together exclusively on a television screen. The 40th episode of MEK will telecast at 9.00 PM on 7 August (Thursday) on MAA TV, the No.1 Telugu General Entertainment Channel (GEC). It will mark the closing of the first season of the game show. MEK holds a promise to come back soon for the second season keeping the audience interest in view. 

     

    Though the format of the game show is popular in India as Kaun Banega Crorpatii (KBC), the MEK game show hosted by MAA TV has created history by showcasing the aspirations of the common men and reflecting the life experiences of the people who have come up in a hard way in the life.

     

    The MEK game show on MAA TV has well connected with the audience across all age groups and socio-economic segments of the Telugu society in India and abroad.

     

    MEK has taken a shape with the visionary thinking of MAA TV Chairman Nimmagadda Prasad, who emphasized on making a social impact through this game show on MAA TV. The game show took the Telugu TV entertainment space to the next level with a good meaning and purpose. After careful assessment of various formats, MEK game show was adopted as it will be a life changer for several people. True to the belief, several heart touching life stories have come into light and MEK became a source of inspiration for common men.

     

    Successfully leveraging the strengths of the game show format, MAA TV platform and Nagarjuna’s image and acceptance, MEK has received excellent response with 11 lakh people showing interest to participate in the game show. Reputed international audit firm Ernst & Young (EY) has supervised the back end process of selection & auditions, while Big Synergy has produced the show for 40 episodes.

     

    MEK, which commenced on 9 June, reached 1.38 crore people in urban Andhra Pradesh and Telangana, out of the total TV viewing universe of 1.74 Crore as per TAM monitoring, and it is one of the highest reach for any TV program.

     

    MEK has achieved phenomenal reach across various target audience categories: 79% in CS 4+, 83% in CS ABC 15+, 81 % in CS Male ABC 15-44 and 86 % in CS Female ABC 15 – 44 as per TAM monitoring data.

     

    The Telugu TV audience is all set to watch the culmination of the success of the MEK first season at 9.00 PM on 7 August.

  • KBC to become ‘Meelo Evaru Koteeswarudu’ on Maa TV

    KBC to become ‘Meelo Evaru Koteeswarudu’ on Maa TV

    MUMBAI: The much popular Kaun Banega Crorepati produced by Big Synergy is all set to conquer the entire south market by launching in the fourth state with Andhra Pradesh as Meelo Evaru Koteeswarudu (MEK). The show will be hosted by popular actor Nagarjuna Akkineni and air on Maa TV.

     

    With prize money of Rs 1 crore, the entries for MEK will begin from 24 April in which people can answer questions through SMS and interactive voice response calls. The show is slated to go on air from the first week of June.

     

    “Maa TV is known for its vibrant, innovative and pleasant programming, and has attained the number one Telugu GEC status now. With Nagarjuna Akkineni as the host, the new game show will be a visual treat for the viewers with an opportunity to win up to Rs 1 crore cash prize. It will be a trend setting initiative in the Telugu TV industry”, said Maa TV chairman Nimmagadda Prasad in a press statement.

     

    MEK, produced by Big Synergy, is Nagarjuna’s first TV venture. “I am looking for this kind of opportunity on TV platform as it reaches each and every Telugu person.  The show will bring the best drama of human life without missing on the entertainment quotient”, revealed Nagarjuna Akkineni.

     

    Big Synergy CMD Siddhartha Basu added, “It’s been an exciting journey partnering with Maa TV. No effort and expense has been spared in mounting this show to world class standards. The show will be a game changer in this region and Nagarjuna makes for a most endearing and charming host. We at Big Synergy are delighted to work together with ‘Nag’, and the Maa team, to bring this life-changing knowledge game for the entertainment of Telugu viewers everywhere. “

     

    “With a bouquet of four channels, namely Maa, Maa Music, Maa Movies and Maa Gold, Maa stands out from the cluster of channels through its unique programming quality and content. The new big initiative will build the Maa brand equity further and take the network to the next level”, Maa TV group head C Ratnakar Rao ended.