Asianet News Network Acquires 51% Stake In Kannada Prabha

Asianet News Network Pvt Ltd has acquired 51% stake in Kannada Prabha Publications Limited, to expand its footprint across television, internet and print.Founded in 1967 by Ramnath Goenka, Bangalore-based Kannada Prabha is a Kannada daily newspaper from the New Indian Express Group.
Kannada Prabha is spread across Bangalore with other editions in Mangalore, Shimoga, Hubli, Belgaum, Hyderabad and Goa.
Rajeev Chandrasekhar founder of Jupiter Media and Entertainment Ventures had acquired Asianet in 2006 and operated a few Malayalam channels. He then launched Asianet Suvarna, a Kannada general entertainment channel, and Suvarna News 24x7. In 2008, he sold the entertainment channels to Star India while retained the news venture.Suvarna News is investing in a new Bangalore studio which is scheduled to be commissioned in the next few months.
Recently, Multi Screen Media Pvt Ltd (MSM), which runs Sony Television in India, was planning to acquire Ramoji Rao-owned Eenadu TV's (ETV’s) bouquet of 11 regional channels, for around $500-600 Mn (Rs.2,250-2,400 Cr).