Prasad V Potluri not buying TV9

Follow speculation in certain sections of the media that industrialist and Tollywood producer Prasad V Potluri popularly known as PVP had made a bid for the popular news channel TV9 for Rs 700 crore, PVP’s team has dismissed the speculation as baseless. While PVP did evince interest in the purchase a year ago, things didn’t work out and he subsequently lost interest, say sources in his team.TRP topper TV9 which goes by the tagline ‘For A Better Society’ is witnessing several dialogues within financial investors who are looking for an exit from the Associated Broadcasting Company Pvt. Ltd. (ABCL). Instituted in 2004 by ace journalist Ravi Prakash, 80 percent of the stakes rests with the financial investors while the founder and the team owns about 18 percent stake. Even though Ravi Prakash holds minority stake, he holds the veto power to pick suitable acquirer.