This paves the way for Star India to enter the Telugu market, considered to be the second largest regional market in India in terms of revenue potential.
Star India and Maa Television Network have announced a deal under which Star India will acquire the broadcast business of Maa Television Network. The acquisition would give Star India access to the Telugu TV market, which is reported to be the second largest regional market in India in terms of revenue potential and a market where Star has very limited presence till date.
“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. 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,” said Uday Shankar, CEO, Star India.
“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 the Maa brand in the entertainment industry,” said Nimmagadda Prasad, Chairman, Maa Television Network.
“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,” Prasad added.
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.
Source: Bestmediainfo.com
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