MxMIndia

Tag: Music Broadcast Limited

  • The list was published amid the Covid-19 crisis, which has upended daily life and business operations throughout the region

    Music Broadcast Ltd ranks amongst the Best Workplaces in Asia

    By A Correspondent

     

    As per the Great Place to Work, a chronicler of workplace culture, Music Broadcast Limited ranks fourth on the 2020 Best Workplaces in Asia list.

     

    The ranking of Asia’s Best Workplaces is based on data collected prior to the Coronavirus outbreak.

     

    Said Apurva Purohit, President, Jagran Prakashan Limited: ”We are elated to yet again feature as Best Workplaces in Asia. As a company, our endeavor is to build an environment that encourages employee growth and organization productivity. Our ranking in Asia’s Top 5 Best companies to work for, is a testimony of our culture that promotes diversity, work life balance and collaborative approach.”

     

     

  • Under the terms of the agreement MBL will acquire 100 per cent ownership of the radio division of AOPL, subject to MIB approval

    Radio City acquires ABP’s Friends FM

    By A Correspondent

     

    Music Broadcast Limited (MBL) has announced that its board has approved the acquisition of the radio division of Ananda Offset Private Limited by way of slump sale. The transaction allows MBL to enter into the Kolkata market and partner Friends FM which has been in the market for over a decade.

     

    Under the terms of the agreement MBL will acquire 100 per cent ownership of the radio division of AOPL, subject to MIB approval. The transaction is by way of slump sale on a going concern basis.(Slump sale means transfer of one or more undertakings as a result of the sale for a lump sum consideration, without values being assigned to the individual assets and liabilities: caindia.com)

     

    Commenting on the announcement, Apurva Purohit, Director, MBL said:“We are happy to announce that the board today approved the acquisition of the radio division of Ananda Offset Private Limited (AOPL).  This acquisition gives us access in the Kolkata market which is considered as one of the Top 5 markets in the country which was earlier not present in our bouquet.  I am very confident that the coming together of strong and established brand like ‘Friends FM’, the high quality local team it has and our national footprint across all key cities in India will give us several opportunities to create EPS accretive synergies.”

     

     

  • Price Band fixed from Rs 324 to Rs 333 per Equity Share

    Music Broadcast Limited announces launch of Public Offer

    By A Correspondent

     

    Music Broadcast Limited, the company that runs the Radio City FM station network, is coming up with an initial public offer of equity shares of face value of Rs 10 each for cash at a premium. It is scheduled to open on Monday, March 6 and will close on Wednesday, March 8, 2017. The price band for the offer is fixed from Rs 324 to Rs 333 per equity share.

     

    Music Broadcast Limited is promoted by Jagran Prakashan Limited (better know as the Dainik Jagran group). Radio City is the first private FM radio broadcaster in India having grown presence from four cities in 2001 to 37 cities today. These radio stations include Bengaluru, Mumbai, Delhi, Chennai, Pune, Hyderabad, Ahmedabad etc. which were existing stations. The company has acquired 11 additional radio stations under the Phase III policy.In addition to presence in 37 cities, the company has a sales alliance with ITM Software & Entertainment Private Limited which operates Suno Lemon 91.9 FM in Gwalior and Ananda Offset Private Limited which operates Friends 91.9 FMin Kolkata. It also operates 40 online web radio stations in eight languages on its web portal www.planetradiocity.com.

     

    For the six-month period ended on September 30, 2016, Music Broadcast Limited generated a total revenue of Rs 1,382.13 million, EBITDA of Rs 455.09 million and net profit/ after tax as restated for the period of Rs 297.56 million. For the fiscal year ended March 31, 2016, it generated a total revenue of Rs 2,455.06 million, EBITDA of Rs 785.87 million and net profit/ (loss) after tax as restated for the year of Rs 425.07 million. Company’s total revenue, EBITDA, net profit/(loss) after tax, grew at a CAGR of 20.45%, 32.40% and 54.09%, respectively between Fiscal 2013 and Fiscal 2016.

     

  • The RJs will share 1000 facts about Madurai city thereby invoking the feeling of city pride – Naadi nerambellam Madurai city

    Radio City 91.9 FM launched in Madurai

    By A Correspondent

     

    Radio City has launched Radio City 91.9 FM in Madurai. With this launch, Radio City now becomes a 37 network station nationally and expands its footprint in the south by adding six stations to its roster.

     

    Radio City Madurai 91.9 FM presents entertaining, innovative and creative content that resonates with the pulse of the city. Keeping in mind the stations brand ideology “Rag Rag mein Daude City” the RJs will share 1000 facts about Madurai city thereby invoking the feeling of city pride – Naadi nerambellam Madurai city.

     

    Commenting on the launch, Abraham Thomas, CEO, Music Broadcast Limited said, “With the launch of our 37th station, Radio City 91.9 FM in Madurai we mark our expansion in the southern belt.  Since inception, Radio City has been the most loved and the leading station in the south and we are all geared up to take this legacy forward and set a new benchmark with each new city.”

     

    Music Broadcast Limited currently has 39 stations, including 11 newly acquired stations in Phase III auctions. Radio City in its third phase of expansion has recently launched Kanpur, Ajmer, Kota, Udaipur, Patiala, Nashik, Jamshedpur, Kolhapur and Madurai and will be launching Patna, Bikaner soon. Radio City also operates a web radio on planetradiocity.com which has 40 stations as of date.​

     

  • Bollywood heartthrob HrithikRoshan andMarathi diva Sai Tamhankar launch Radio City 95 FM in Kolhapur

    Radio City launches eleventh Maharashtra station in Kolhapur

     

     

    Radio City has launched its eleventh station in Maharashtra with Radio City 95 FM in Kolhapur. With this launch, notes a communique, Radio City becomes the leading radio network with respect to footprint in Maharashtra with stations in Pune, Ahmednagar, Solapur, Sangli, Nanded, Jalgaon, Akola, Nagpur, Nashik, Kolhapur and of course Mumbai.

     

    Commenting on the launch, Abraham Thomas, CEO, Music Broadcast Limited said, “With the launch of Radio City 95 FM in Kolhapur, we are proud to become the leading radio network with respect to footprint in Maharashtra covering 11 cities. Kolhapur being one of the fastest growing cities of Maharashtra, we are all geared up to redefine radio entertainment post carving our footprint in metropolitan and Tier 2 cities. We are certain that we will see an overwhelming response from Kolhapur like our other stations in Maharashtra”.

     

    A rally was organised from the famed Mahalaxmi Temple in the city to the Radio City Kolhapur 95 FM station. Marathi film diva Sai Tamhankar participated in the rally along with the RJs of the FM channel.

     

     

  • Radio City, a part of Music Broadcast Limited strengthens its presence in Rajasthan with the launch of 4 stations: Ajmer, Udaipur, Kota, Bikaner

    Radio City expands base in Rajasthan

    By A Correspondent

     

    Radio City strengthens its presence in the state of Rajasthan by launching four more stations in Ajmer, Udaipur, Kota and Bikaner. Close on the heels of the launch of its sixth station in UP; Radio City now expands its reach to five stations in Rajasthan. Fortifying its footprint, Radio City launched Radio City Ajmer 104.8 FM on 10th December 2016 and now announced the launch of Radio City 91.9FM in Udaipur and Radio City 91.1FM in Kota followed by an upcoming station in Bikaner.

     

    Said Abraham Thomas, CEO, Music Broadcast Limited:  “With launch of our four new stations in the key markets of Rajasthan, we are excited to become a strong radio network, covering 5 cities in the state now. After a heartwarming response in Jaipur, we are all set to entertain our listeners in Ajmer, Udaipur, Kota and Bikaner. We want to give our listeners the best of localized content and entertainment in sync with our ideology Rag Rag mein Daude City.”