ZEE Network India has reportedly shown interest in acquiring a majority stake in TV9 Network from the ABCL group.
TV9 Network runs seven news channels currently in regional languages including TV9 Kannada, TV9 Marathi and the popular TV9 Gujarati news channels.
Business Standard reports that Chintalapati Srinivasa Raju (Srini Raju) currently holds the largest stake in ABCL, while US-based private equity firm Saif Partners holds 20 per cent while the TV9 founder and Chief Executive Officer Ravi Prakash and his associates hold the remaining 20 per cent stake.
Apparently, the deal has already been finalised and awaiting the final nod in a couple of months.
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