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Post by The Ultimate Nullifier on Feb 11, 2015 9:11:40 GMT -6
variety.com/2015/news/foxs-star-india-to-buy-telugu-language-maa-tv-group-1201430882/Star India, the pay-TV group controlled by 21st Century Fox, is to spice up its Telugu-language activities through the acquisition of Maa Television Network. The South Indian Telugu audience is the second largest regional market in India. Hyderabad-based Maa operates four channels, a general entertainment channel maa, as well as maa Music, maa Movies and maa Gold. Details of the transaction and Maa’s financial position were not announced. Star plans to closely integrate the Maa businesses into its own. “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,” said Uday Shankar, CEO, Star India. “The acquisition fills a vital gap in our portfolio allowing our advertisers targeted access to a critical market “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 Maa brand in the entertainment industry. [It] will enable Maa to offer more innovative, rich and differentiated entertainment content to the Telugu Diaspora worldwide” said Nimmagadda Prasad, chairman of Maa Television Network. The deal is subject to regulatory approval.
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