As per reports, TV9 promoter Srini Raju has sold his share in the channel. Construction company Megha Engineering and Infrastructure Limited (MEIL) promoted by Krishna Reddy and My Home group promoted by real estate tycoon Jupalli Rameshwar Rao has bought major stake in TV9.
Associated Broadcasting Company Private Limited has confirmed the deal. However, Ravi Prakash continues to be CEO. Buzz has it that TRS party is behind the deal. Surprisingly, Srini Raju is said to have sold his share for 485 crore declining bigger offers from Zee Group and Times Group.
Apparently, Srini Raju obliged to recommendation from Telangana CM KCR. It is also evident from pro-Government programs being aired on TV9. It will be additional asset to TRS as the popular channel will help their campaigns for 2019 elections.