MAA TV and Sony Pictures Television propose strategic alliance
Hyderabad, India, and Culver City, California – MAA Television Network Limited and Sony Pictures Television (SPT) have expressed their joint intent to enter into a strategic alliance to give a new growth thrust to MAA TV and its network of Telugu TV channels.
The strategic alliance would enable SPT or any of its affiliates to acquire 30 per cent equity stake in MAA Television Network Limited on signing the Definitive Agreement and subject to obtaining necessary approvals from the concerned statutory authorities. The majority shareholders of MAA Television Network and SPT have signed a Letter of Interest to this effect.
Mr. N Prasad, Mr. K Chiranjeevi, Mr. Nagarjuna Akkineni and Mr. Allu Arvind, the four main promoters of MAA Television Network Limited, together control about 95 per cent of the company’s equity capital at present.
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