Reports are emerging that Zee Group is eyeing a major stake in Hyderabad-based Associated Broadcasting Company Pvt Ltd (ABCL) which operates the most popular Telugu News Channel, TV9. Srini Raju is the major stakeholder in the company. Zee Group reportedly made a bid of 850 Crore to buy his stake in the company.
Besides TV9, ABCL also have Jai Telangana and seven other channels including the ones in Kannada, Marathi, Gujarati and English. There is a buzz that the promoters are trying to sell the company for a long time. Back then it was rumoured that My Home Rameshwara Rao, a confidante industrialist of Telangana CM K Chandrasekhara Rao bought the major stake.
But the company refused the reports and termed them as totally baseless. Recently, Zee Group has sold its Sports Channel, Ten Sports to Sony for a whopping 2500 Crore. The Group is now sitting on cash and is eager to expand in to Regional Television. TV9 Management refused to answer queries about this deal.
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