No headway in iLab Group, MAA TV talks

Talks between the Srini Raju-promoted iLab Group and the city-based satellite channel MAA TV have ground to a standstill.

MAA TV, promoted by a group of professionals, was in talks with the iLab Group for raising money to fund its future growth.

According to highly placed sources, talks between the two entities came very close to an agreement at least a month back, but now have been temporarily suspended.

"The real issue is that MAA has to decide whether they want to be a family-run group or a professionally-managed group," a source close to iLabs told Business Standard.

MAA is also apparently in talks with the Rupert Murdoch-controlled Star for a possible stake sale though no confirmation could be obtained from either entities. It is also not clear as to how much the promoters of MAA expect to raise through the stake sale.

iLab has also promoted leading Telugu news channel TV9 and it was expected that there would have been a lot of synergies for the group to have taken a managing stake in MAA also.