wordpress blog stats
Connect with us

Hi, what are you looking for?

Jagran Prakashan to acquire Radio City 91.1 FM

Jagran Prakashan Limited has received board approval to acquire Music Broadcast Private Limited (MBPL), which operates the radio network Radio City 91.1 FM, the company has informed BSE. The acquisition is subject to regulatory approvals, including the Ministry of Information and Broadcasting. The acquisition is expected to be an all-cash deal. As part of the acquisition Jagran Prakashan will be acquiring MBPL’s holding company and the subsidiary that provides activations. The deal value wasn't disclosed, but a source-based Livemint report pegs the deal to be worth Rs 500 crore. MBPL had reported Rs 161.8 crore revenues in FY14, and registered a 28% growth in ad revenues and operating margins of about 28% in H1-FY15 (unaudited). India Value Funds Advisor holds 55% stake in MBPL and Star Group holds 20% stake. Phase III FM auctions: This comes at a time when the Indian government is planning to hold the Phase III of FM frequency auctions within this fiscal year. 839 new stations in 294 cities are expected to be auctioned during this phase. Earlier this year, Radio City CEO Apurva Purohit had told The Economic Times that they are planning to open 20 new stations after the Phase III auctions. Radio City currently operates in 20 cities across 7 states in India, including Mumbai, Delhi, Bangalore & Lucknow. It also has tie-ups with other radio stations like Suno Lemon in Gwalior & Friends FM in Kolkata. Radio City also runs the music portal PlanetRadiocity.com that offers music related news, songs, videos, etc.…

Please subscribe/login to read the full story.
Written By

Free Reads

News

The Minister's response came after an X user posted answers generated by Gemini regarding Prime Minister Narendra Modi.

News

Vaishnaw said that in the next five years, there will be significant disruptions in the way telecom technology operates.

News

Microsoft has partnered with Indian institute iCreate to select AI innovators under the iMPEL-AI programme. Under this, 100 startups from across the country will...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

News

RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ