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STAR INDIA ENTERS TELUGU GEC SPACE, BUYS MAA TELEVISION GROUP
Star India Pvt Ltd has inked a deal to ac-quire Telugu television channel network of Maa TV for an undisclosed amount, the company said on Wednesday. However, separate media reports said the deal could be worth as much as $400 million.Star India, which is part of Rupert Murdoch-controlled entertainment media firm 21st Century Fox, will get four television channels as part of the deal. It will pitch it right against Reliance Industries-controlled Network18 which now owns Eenadu or ETV business in the state.The acquisition would give Star India better access to the Telugu TV market the second largest regional market in India in terms of revenue potential, said the company. “The Telugu market is an important market however the pace of innovation has been slow. We are keen to change this by acquiring a local presence,” said Uday Shankar, CEO, Star India. “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,” Shankar added.

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