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Sony Pictures TV to acquire 30 per cent stake in Maa Television Network.
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Sony Pictures TV to acquire 30 per cent stake in Maa Television Network

Marking its foray into the southern language space, Sony Pictures TV has agreed to acquire a 30 per cent stake in Maa Television Network.

SPT has entered into a strategic alliance with Maa Television Network, a regional broadcaster which operates a network of Telugu channels.

The strategic alliance will enable SPT or any of its affiliates to acquire the stake 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 (LOI) to this effect. N Prasad, K Chiranjeevi, Nagarjuna Akkineni and 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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