If reports are to be believed, leading Telugu news channel TV9 has been sold. And it's bought by none other than Telangana CM KCR's close aide and real-estate baron Rameshwar Rao Jupally. Rameshwar Rao, the chairman of My Homes Constructions, said to have bought the channel for staggering price.
While the exact deal value is not yet disclosed, an official announcement regarding the same is awaited. The channel management has been planning to sell it from longtime and many famous news networks in country were interested in taking it over. However, nothing worked out due to the high price quote to make a deal.
Now that Rameshwar Rao decided to pump in big monies, the TV channel management seems to have budged for the sale. The channel which also has a sister channel in Telangana is likely to be the part of the deal. More details are yet to be revealed.