KCR Behind TV9 Sale Deal?

Now that TV9 itself has confirmed the reports that it is changing hands with original promoter of the channel Srini Raju opting out of it, there have been more and more interesting speculations over the deal.Though the Associated Broadcasting Company Private Limited, the group company of TV9, clarified that CEO Ravi Prakash would continue to hold the management with the support of two major international investment funds and local investors, according to the latest speculations, it is none other than Telangana Rashtra Samithi president and chief minister K Chandrasekhar Rao who is behind the whole deal.

Initial reports said infrastructure giant Megha Engineering and Infrastructure Limited (MEIL) promoted by Krishna Reddy and My Home group promoted by real estate tycoon Jupalli Rameshwar Rao would have the lion’s share in the deal with Ravi Prakash as their front man.However, latest reports say the MEIL and My Home had the backing of KCR and his family. Everybody knows the proximity and patronage these industrial groups enjoy with the TRS government.

“It was surprising that Sri Raju had offered the management for just Rs 485 crore, though he had rejected better offers in the past from Zee Group and Times Group. It could be just on-the-record deal and Raju might have got a bigger deal off-the-record from KCR family,” sources said.