Sony Bought ETV Channels

Multi screen India which runs Sony channels in India bought 11 ETV regional channel of Ushodaya Enterprises. Ushodaya Enterprises was a joint venture between Ramoji rau and JM Financial. 64% shares of Ushodaya Enterprises were hold by Ramoji Rao and 36% shares were hold by JM Enterprises. Multi Screen Media bought 11 ETV channels for 2600 crore rupees. It contains seven regional language channels and four Hindi channels. This deal is considered as the largest media deal in India. ETV runs a 24 hour Telugu news channel, ETV2, which will not be sold to Sony.    Now 100% shares of Ushodaya Enterprises have hold by Ramoji group.  Now Enadu, a major daily news paper in Telugu language, ETV2 the 24 hour news channel in Telugu and Priya Foods a food making company are the companies under Ushodaya Enterprises. Sony TV, Sab TV, Set Max,Sony Pix, AXN and Animax are the other channels under Multi Screen India group. By this deal Sony can enter in the regional television market in India. Star TV and Zee Television are the main rival of Sony TV in the regional television market.