There have been many reports in the past when TV9 was bought over by some corporate or some news organisation. However, they have all proved to be wrong so far.
At last, a definite takeover bid is said to be happening.
Highly placed sources inform us that producer PVP will be taking over TV9 group for a whopping Rs 700 Cr.
His earlier attempts to buy the company didn’t succeed due to low pricing (Rs 400 Cr), but now he has agreed to pay the said amount and the chairman of TV9 Group is said to have initiated the legal procedure.
There will be more clarity on the takeover in about a month’s time.
As we had reported earlier, PVP has cut down on movie production and is looking for an active political career. He believes he can have it easy as a politician if he has the backup of a strong media house.