Sun tv group eyeing to buy tv9 group of channels
The Kalanithi Maran-controlled Sun TV Network Ltd is close to acquiring Hyderabad-based Associated Broadcasting Company Pvt Ltd (ABCL), which manages a chain of regional news channels under the brand TV9.
ABCL has six news channels — one in Telugu, two in Kannada, and one each in Gujarati, Marathi and English. According to sources, the Mauritius-based private equity firm Saif Partners has substantial stake in the company, and is looking to exit.
“The deal may be struck for approximately Rs 150 crore,” a person close to the development told Business Line.