Ravi Prakash, the former CEO and founder of TV9 revolutionised the Telugu news space with TV9, which was the first 24 hours news channel in Telugu. He kept TV9 in the market leader position for many years.
However, Ravi Prakash had to leave TV9 after the Enforcement Directorate filed a PMLA (Prevention of Money Laundering Act) case against him.
My Home group then completed a hostile takeover of the media company and the current management alleged that Ravi misused crores of company’s funds for his personal gains. The end point is that Ravi Prakash had to leave TV9 in a forceful manner.
Right now, the media house has four stakeholders- Jupally Rameswar Rao (My Home Group), Megha Krishna Reddy, MBK Murthy and Ravi Prakash. But, Ravi Prakash holds a minor share.
After Ravi Prakash left, TV9 slowly started to slow down as its competitors like NTV started to pick up the pace. NTV soon overtook TV9 as the market leader.
However, Ravi Prakash never sold his minor stake in TV9 despite the pressure to sell the same. There are rumors that he is soon coming with his own media house ‘R’ Tv.
Ravi Prakash’s sudden appearance at the TV9 office has become a topic of discussion now. But, he said he visited the office to check some accounts. And more so, given that this has happened just right before Telangana and Andhra Pradesh are entering the elections mood.