Cherukuri Ramoji Rao, better known as Ramoji Rao (b. 16 November 1936) is an Indian businessman and entrepreneur in the media business. He is head of the Ramoji Group which owns, among others, the world's largest film production facility called Ramoji film city. Film city is situated near Hayathnagar; about 25 kms from Hyderabad on the Hyderabad-Vijayawada Highway.
Rao was born in Gudivada, Krishna District, Andhra Pradesh, into an agricultural family. Some of the companies owned by the Ramoji group include Margadarsi Chit Fund, Eenadu newspaper, ETV, Priya Foods, Ushakiron Movies and as mentioned above, the Ramoji Film City near Hyderabad.
In one of the largest investment deals in the media sector, global private equity firm Blackstone Capital Blackstone Group has acquired around a 26 per cent stake in Ushodaya Enterprises Ltd (UEL), the holding company that runs Andhra Pradesh's Eenadu group, for $275 million. It also gets a seat on its board.
Akhil Gupta, chairman and managing director of Blackstone Advisors India Private Limited, said: "We believe that the Indian media sector will be a key beneficiary of a secular trend in growth in personal consumption that is driving India's economic expansion." This in turn would spur advertising growth and the UEL would be an ideal platform for Blackstone to play on this highly attractive sector in India.
Rao was born in Gudivada, Krishna District, Andhra Pradesh, into an agricultural family. Some of the companies owned by the Ramoji group include Margadarsi Chit Fund, Eenadu newspaper, ETV, Priya Foods, Ushakiron Movies and as mentioned above, the Ramoji Film City near Hyderabad.
In one of the largest investment deals in the media sector, global private equity firm Blackstone Capital Blackstone Group has acquired around a 26 per cent stake in Ushodaya Enterprises Ltd (UEL), the holding company that runs Andhra Pradesh's Eenadu group, for $275 million. It also gets a seat on its board.
Akhil Gupta, chairman and managing director of Blackstone Advisors India Private Limited, said: "We believe that the Indian media sector will be a key beneficiary of a secular trend in growth in personal consumption that is driving India's economic expansion." This in turn would spur advertising growth and the UEL would be an ideal platform for Blackstone to play on this highly attractive sector in India.
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