The Hindu Business Line : MTV not keen on stake in SS Music

MTV India's Managing Director, Mr Alex Kuruvilla, on Thursday said his company is not interested in buying a stake in Chennai-based music channel, SS Music, ending over an year of speculation about an impending deal.

"I don't think SS Music in any way has significant equity which will be of interest to us," he said, denying that the deal fell through as a result of differences over valuation and control.

To a question whether MTV is looking to start its own music channel for the South, Mr Kuruvilla said, "We would like to have a South Indian music channel at some time in the future ... hope our fantasy comes true fast."

He said SS Music will "increasingly find itself pressured" in a space dominated by major international music channels such as MTV and Channel V as also regional players who have better resources in local music.

Media reports around April last year said MTV's parent Viacom had valued SS Music at about Rs 40 crore. The Martin Lottery-run multilingual music channel, which completed four years of operations recently, is said to have earned revenues of Rs 6 crore this year.

A source in the know said the development was anticipated, as there was a long period of silence after the initial round of meetings, which to begin with explored a marketing tie-up.

SS Music President, Mr B.D. Ramesh Babu, told Business Line that he is not looking at a deal with any other channel now, adding he had "nothing more to say at this moment."

Within two years of kicking off, in 2003, SS Music had claimed an edge over MTV and Channel V in the southern market, more particularly in Chennai, where it is the only free-to-air channel of the three now.

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