21st Century Fox’s Star India has acquired Telugu-language channel Maa TV.
The deal hands the Asian Fox business access into the Telugu market, which Star said was the second-largest regional market in India in terms of potential revenue.
The acquisition, financial terms of which were not disclosed, will close upon regulatory approvals.
The Maa TV business will then be integrated into the Star broadcast business, which operates branded Star channels, Fox Crime, FX, National Geographic Channel, Star Sports and others in the Indian market.
Maa TV has “a strong trajectory of growth driven by fiction content and movies”, Stars added.
“The Telugu market is an important market however the pace of innovation has been slow,” said Uday Shankar, CEO, Star India. “We are keen to change this by acquiring a local presence. “We were very impressed by the solid creative core and quality and depth of the management team at Maa Television Network.
“In a short span of time they have built a leading business which is poised to take the next leap. The acquisition fills a vital gap in our portfolio, allowing our advertisers targeted access to a critical market.”
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20 June 2018 @ 12:15:00 UTC