As many as 10 board directors went over to the TV9 office and held a meeting on Friday. There they announced the appointment of Singa Rao. Singa Rao, an old media management hand who had worked in Maa TV and 10 TV, is known to be a task master. He is expected to bring order to TV 9, which is embroiled in an unseemly controversy over the removal of Ravi Prakash.
It may be recalled that My Home group and the Megha group have purchased majority shares in ABCL and tried to appoint the directors of their choice. They own 90.54 per cent shares. Ravi Prakash tried to stall the change of management and used his power to prevent the entry of the board of director earlier. He has also tried to stop the entry of four directors appointed by the new owners. Besides, there were allegations of Ravi Prakash forging some key documents and transferring funds to private accounts against Ravi Prakash and he was removed by the ABCL. A day after this development, Ravi Prakash hit back with his own live broadcast from TV9 studios saying he is still the CEO of the organisation. The ABCL said that both Ravi Prakash and Murthy had malafide intention to prevent ABCL from taking over.
On Friday, the board of directors of the Associate Broadcasting Company addressed a press conference in a swank hotel and ABCL Sources said that even before this announcement, the new management has identified as many as 50 diehard supporters of Ravi Prakash and has asked them to resign. Also, a scanning of the editorial team is being done. If the sources are to be believed, there would be not be anymore CEOs in the organisation. Incharges for each language would be appointed and they would report to the new management. The ABCL said that all the language channels, including TV9 Bharatvarsh, would be managed by the ABCL. They said Ravi Prakash filed wrong cases against the new management. The new management would work to uphold the highest traditions of journalism.
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.