Nimmagadda Prasad who is the major shareholder in MAA TV and its group of channels decided to sell his stake in the channel. Sony Pictures Television will be buying the 30% share in the channel held by Nimmagadda Prasad. While the exact amount shelled for the deal is not known, industry sources say it is somewhere around 2500 Crores.
As per MAA TV website, board of the directors of MAA TV are N Prasad (Chairman) Nagarjuna, Allu Aravind, and Ram Charan. All the board members had approved this deal. Recently, the majority shareholders of MAA Television Network and SPT have signed a Letter of Interest to this effect. Sony will very soon take up the content management system of MAA TV too.