Sony in running to acquire 26 percent stake in Arha Media

Sun TV too is in the running to acquire a similar stake in the media company. The value of the deal is said to be around Rs. 1500 crore, as per reports.

By
Storyboard18,

| February 26, 2024 , 10:26 am

According to Bloomberg, the Japanese entertainment company made multiple filings to India’s National Company Law Tribunal(NCLT) on Thursday to pull out of the merger agreement with Zee. (Image sourced via Sony website)

Sony Group’s India arm is looking to acquire at least a 26 percent stake in Arha Media and Broadcasting which owns regional OTT platform aha.

The value of the deal is said to be around Rs. 1500 crore, as per reports. The predominately Telugu-oriented content streaming platform has over 2.5 million subscribers and is one of the top Telugu OTT platforms in India and its diaspora markets like the United States.

Arha Media is in talks with Sun TV as well for a similar stake, as per reports. Sun TV is looking to consolidate its presence in the regional language content space. KPMG Corporate Finance is the advisory to Arha for the sale.

New targets and acquisitions are the next logical thing for Sony to look at after the whole merger debacle with Zee.

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