Dr. Rameswar Rao, the chief of MyHome Constructions, who turned to real-estate from his earlier profession of a homeopathy doctor, has invested in two big media houses in Telugu, according to the reports.
The move by a close friend of Telangana CM K Chandrashekar Rao, has been criticized by many as according to the experts Mr. Rao is starting to dominate media by acquiring stakes in the bigger media houses.
According to the reports, Mr. Rameswar Rao has acquired 11% stake in a news channel in Telugu, NTV, owned by Narendranath Chowdary for Rs. 30 crore and has invested Rs. 7 crore in another Telugu news channel TV5.
Earlier, Rao’s attempts to to acquire leading news channel in Telugu TV9, headed by Ravi Prakash. Experts said that as the deal with TV9 has been scrapped, Mr. Rao has invested in channels, ranked no. 2 and 3 in Telugu news channels.
A senior editor of the Telugu newspaper said, “It is clear that Mr.Rameswar Rao wants to control the media narrative. This is similar to what Ambani has done at the national level by acquiring Network 18 group and ETV.”
Experts says that after the investment of Mr. Rao in TV5 and NTV, their independence to ask questions to the KCR Government will be questioned, considering the close relationship of Mr. Rao with the Chief Minister.
Reports said that Mr. Rao is keen to invest in media industry not only to spread his business empire but to help his friend KCR and to support a popular Swamy’s trust. Reports said that one of the news channel, in which Mr. Rao has acquired stakes telecast program about Charlathan Swami in Prime Time at 8.30 AM and instead of enlightening people spread various superstitious activities.
A senior media executive about corporate investments in Media said, “Once upon a time media took it’s role to question people in power very seriously. Media was the adversary. It would take on those in positions of power, whether in government or the corporate sector. Time alone will tell how that adversarial role will exist under these sort of corporate deals.”
By Prajakt K.
