Friday, July 22, 2011

Sony Buying ETV Channels?

Indian entertainment television major – Sony Television is learnt to be buying 11 of the 12 channels of ETV for a whopping Rs 2,400 crore! Multi Screen Media (MSM) is overlooking the administration of Sony Television in India, while the parent company is in Los Angeles. Owned by Ramoji Rao, ETV channels are operating in several languages including Telugu, Marathi, Bangla, Oriya, Gujarati and Kannada among others. As of now, channels like Sony TV, SAB TV, Set Max, Sony PIX, AXN and Animax are being operated under Sony Television. However, the deal would further strengthen Sony Television in the market, thus placing it as tough competitor for the other entertainment channels like STAR and ZEE. Post-deal, Ramoji Rao will be left with only ETV2 (news channel) and Eenadu daily.