The three and a half-decade old multi-thousand crore business empire of media baron Ch Ramoji Rao is all set to be disintegrated in the next couple of months as had happened in the case of Reliance empire of Dhirubai Ambani, if industry sources are to be believed.
Ramoji had already set in motion the process of selling almost all of his ETV channels, barring ETV2, to Sony Entertainment Network at a whopping rate of Rs 3,300 crore to steer himself clear of all debts, particularly those of global investor Nimesh Kampani. The process is expected to be completed by July end.
Once he clears all the loans, Ramoji would take up distribution of all his assets between his two children – Kiran and Suman. While Kiran has already taken control of Eenadu Telugu daily, his wife Sailaja Kiran is successfully running Margadarsi Chit Funds. Suman will take care of Ramoji Film City activities and Dolphin Hotels in Visakhapatnam.
Ramoji’s wife Rama Devi is taking care of Rama Devi Public School near the Film City.
So, Ramoji would be left with ETV2. Besides, he wants to construct a five-star hotel with the money left with him after selling of ETV channels. It is said to be his dream project. He will run both these projects as long as he is alive.
So, Ramoji will remain like Kokila Ben, wife of Dhirubai Ambani, who divided the Ambani empire equally between the two sons – Mukesh and Anil.
“He knows that once he dies, his business empire will become like “kukkalu chimpina vistari” as his sons would fight with each other and spoil his image. So, before it happens, he wants to distribute his assets,” sources said.
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