Hyderabad: News Broadcast Network TV9 has witnessed ugly turn of events with rivalry between its founder& CEO Ravi Prakash and the new management reaching a flashing point with Ravi Prakash being sacked from his post with immediate effect and Singa Rao being replaced as the new CEO of the company.
According to industry sources and reports from Great Andhra, Alanda Media Entertainment Private Limited, a joint venture of My Home Group headed by Jupalli Rameshwar Rao and Megha Engineering and Infrastructure Private Limited (MEIL) Krishna Reddy, which bought over majority of the stakes in the Associated Broadcasting Company Limited (ABCL) that owned TV9, reportedly removed Ravi Prakash from the CEO post and Singa Rao, presently CEO of 10TV, also promoted by My Home Group, has been appointed as the new CEO of TV9.
Moreover,Alanda Media has alleged that Ravi Prakash had siphoned off huge funds from ABCL into his own media venture Mojo TV.It further alleged that RaviPrakash had indulged in forging the signature of Alanda Media’s director Koushik Rao, in a bid to stall the appointment of new directors on the board by My Home group and MEIL.
Thus, Ravi Prakash is alleged of trying to prevent Alanda from taking control of TV9 channel from him. A Police complaint in this regard seems to be filed before the Cybercrime police of Hyderabad and the police have been conducting searches in the offices of TV9.