Mojo TV, which created a sensation in the Telugu electronic media circles for over a year with its mobile journalism, is now said to be on the verge of closure.

The channel, which had the backing of popular Telugu television news channel TV9 during the regime of its former chief executive officer V Ravi Prakash, went into the hands of TV9’s new management Alanda Media and Entertainment Pvt Ltd, promoted by My Home Group promoted by Jupalli Rameshwara Rao and Megha Engineering group headed by Krishna Reddy.

According to the reports, the employees of Mojo TV were informed that the channel is being wound up shortly, causing a lot of concern in them. They were offered one month salary and are being asked to quit their jobs.

“This will throw the families of more than 160 employees on the roads. The channel head has been sold out to the My Home group. As per the agreement, the management has to give three months’ salary before winding up the channel, but there is none to fight on behalf of employees,” a journalist associated with the development said.

According to sources, the situation in TV9 is also very bad, as the channel is facing financial crunch for the first time. The employees of Mojo TV are getting ready for a dharna shortly, sources said.