Jagran Prakashan (JPL) has received an approval for entry into the radio industry via acquisition of Music Broadcast (MBPL). The board of directors at their meeting held on December 16, 2014 has approved for the same. The acquisition is subject to regulatory approvals, including from Ministry of Information and Broadcasting, and execution of binding agreements. As part of the acquisition the company is acquiring MBPL’s holding company and fellow subsidiary that provides activations.
Music Broadcast (MBPL) runs India’s leading radio network under the name ‘Radio City’ and is present in 20 stations across 7 states. The network has a strong national presence, with a presence in the top 14 out of 16 advertisement revenue generating markets with a focus on SEC AB audiences.
MBPL’s FY14 revenues were Rs 161.8 crore and the H1-FY15 (unaudited) revenues exhibit healthy growth of 28% in ad revenues. MPBL’s current operating margins are approximately 28%.
Company Name | CMP |
---|---|
D.B. Corp | 301.15 |
Navneet Education | 150.00 |
Jagran Prakashan | 93.50 |
HT Media | 25.35 |
Hindustan Media Vent | 97.00 |
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