A gossip website has started a baseless rumor that industrialist PVP is on the verge of buying TV9. As you can guess, there is no truth to this. A senior executive from TV9 confirmed to Telugu360 that there is no truth in this and a lawsuit is on the way to the portal who published this. TV9 sources tell Telugu360 that PVP has elicited interest more than a year back, but the discussions didn’t move forward due to financial reasons. PVP also confirmed to Telugu360 that there is no truth in the rumors about acquiring TV9.
TRP topper TV9 which goes by the tagline ‘For A Better Society’ is witnessing several dialogues within financial investors who are looking for an exit from the Associated Broadcasting Company Pvt. Ltd. (ABCL). Instituted in 2004 by ace journalist Ravi Prakash, 80 percent of the stakes rests with the financial investors while the founder and the team owns about 18 percent stake. Even though Ravi Prakash holds minority stake, he holds the veto power to pick suitable acquirer. Since the motives for the marquee journo turned CEO and VC’s are not aligned, sources opine that it will take a long time to find a suitable buyer who works for both the parties. Till then, it is just a rumor.
