As we have been exclusively reporting, TV9 top management crisis has been escalated to a point of no return. The consequences may lead to departing of founder team of TV9 very soon from the firm.
After acquiring majority stake in ABCL ( Parent group of TV9) , Megha Constructions Krishna Reddy and MyHome Group Rameswara Rao have replaced four of the board members ( which were earlier held by Srini Raju’s iLab) recently. Reportedly Jagapathi Rao Jupally, Sangu Samba Siva Rao, A. Srinivasa Rao, P. Kaushik Rao are the new directors. Ravi Prakash, Clifford Pereira and Murthy are the other three from the old team , still remaining in the board.
From inception of TV9 , major stake holder Srini Raju ( 80% stake ) never involved in editorial affairs , Ravi Prakash had complete control over the channel operations as well as editorial programming . But , it has been reliably learnt that new board has started muddling in the editorial affairs a lot to the dislike of Ravi Prakash.
It has been reliably learnt that , as per NCLT ruling related to Saif Partners, there shouldn’t be any changes to Board of TV9 ‘s parent company ABCL. Ravi Prakash has now approached court claiming the changes in the board is illegal. As Ravi Prakash is a minority stakeholder, there is every possibility that he and his team might be forced out of TV9. According to our highly placed sources , this might happen as soon as in next few weeks. A high profile meeting with a key person in TG government might decide the fate.
We’ll have to wait and see if TV9 can continue to hold it’s numero uno position if Ravi Prakash’s team exits. Unarguably Ravi Prakash is the mastermind behind the TV9’s rise and continuation of it’s numero uno status.