Sony Pictures Networks India (SPNI) has refuted speculative news reports suggesting that they are in talks with Arha Media and Broadcasting regarding the acquisition of a stake in the company.
In a statement, SPNI said, "We at Sony Pictures Networks India (SPNI) respectfully clarify that the speculation regarding our acquisition of a stake in the OTT platform, Aha, is completely unfounded and not based on facts.”
Recent media reports speculate that Sony Group Corporation’s Indian arm is in talks to secure at least a 26% stake in Arha Media and Broadcasting.
Arha Media and Broadcasting is the parent company of the regional language OTT platform aha, known for its Telugu and Tamil offerings.
Aha is promoted by Ramu Rao, from the promoter family of TV9 and the My Home Group, along with Allu Aravind, the founder of Geetha Arts, a film production and distribution company, and the father of Allu Arjun."
The reports have estimated the deal at Rs 1,500 crore.
The media report stated that alongside Culver Max Entertainment, Sun TV is in contention for the deal.
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