Nimmagadda all set to sell Maa TV

Industrialist Nimmagadda Prasad, who is facing CBI cases along with YSRC chief Jagan Mohan Reddy, is back in business. Sources said that Maa TV, which Mr Prasad owns along with Union tourism minister K. Chiranjeevi and his brother-in-law Allu Aravind and actor Nagarjuna, is all set to be sold. Though not confirmed by Mr Prasad’s media managers, the market valuation of the Telugu entertainment channel is put at a whopping `1,800 crore. The other partners have given approval for the sale.

“Maa TV entered into an MoU with Sony for a takeover,” sources said. He is also believed to have exited Care Hospitals and the Asian Institute of Gastroenterology. Mr Prasad shot into limelight by selling Matrix Laboratories to Mylon which fetched him around `550 crore.

Meanwhile, several prominent individuals, who are facing CBI charges along with YSRC chief Jagan, have taken the plunge into politics.

Former minister Mopidevi Venkata Ramana, Ramky Group chairman Ayodhya Rami Reddy and Koneru Prasad will be contesting as YSRC candidates.

The Ramky chief has been declared the YSRC candidate in Narasaraopet LS constituency while Mr Koneru Prasad, the prime accused in the Emaar scam, will contest from Vijayawada.

Congress MP K.V.P. Ramachandra Rao’s brother-in-law Raghuramakrishnam Raju, who figured in the Emaar case, has switched loyalties from YSRC to BJP.