Jagran Prakashan (JPL) has completed the acquisition of ‘Radio City’. The company in its board meeting on December 16, 2014 had approved the entry of the company into the radio industry via acquisition of Music Broadcast (MBPL).
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 FY15 revenues were Rs 209.4 crore, a growth of 30% over the previous year. MPBL’s operating margins for FY15 are 31%. The Profit after Tax for FY15 is Rs 43 crore, a growth of 100% over the previous year.
