SPT to Take Stake in India’s MAA TV


HYDERABAD: Sony Pictures Television (SPT) has entered a strategic alliance with MAA Television Network, which operates a network of Telugu-language channels, that would give it a 30-percent stake in the Indian broadcaster.

The alliance would allow SPT or any of its affiliates to buy the shares on signing the "Definitive Agreement" and subject to necessary approvals. The majority shareholders of MAA TV and SPT have signed a "Letter of Interest."

Manjit Singh, the CEO of MSM India, responsible for Indian operations of Sony Picture Television, said, "An alliance between SPT and MAA TV will provide strategic opportunities for both the companies, as well as great viewing for television audiences in India. We look forward to a prosperous relationship for all."

N Prasad, MAA’s chairman, added, "With Sony as a strategic partner on board, Telugu viewers can expect more and more quality programs and family viewing from MAA TV network of channels."

"In terms of all performance indicators, MAA TV is one of the best companies in Indian media industry. The strategic alliance with SPT would further consolidate MAA TV’s position in the industry," added C. Ramakrishna, the director of MAA TV.