Star India, a unit of 21st Century Fox, has acquired Telugu station, Maa Television Network. The acquisition would give Star India access to the Telugu TV market, which is the number one broadcast network in Telugu language content.
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.
Uday Shankar, CEO, Star India, said, “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.”
Nimmagadda Prasad, chairman, Maa Television Network, added, “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. 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.”