Next Mediaworks has received the National Company Law Tribunal’s (NCLT) approval for the Scheme of Arrangement between the shareholders of Next Radio (NRL) and Syngience Broadcast Ahmedabad (SBAL) pursuant to which NRL's FM radio broadcasting business at Ahmedabad shall be demerged and transferred to its wholly owned subsidiary SBAL.
The said Scheme is subject to the approval of the Ministry of Information & Broadcasting (MIB) and shall be effective on the date MIB accords its approval. NRL will soon be making an application to MIB for seeking its approval.
Next Mediaworks operates a diversified media company. The company publishes a number of newspapers besides owning and operating radio stations. It also operates an outdoor advertising business and has an Internet presence as well.
