HT Media has received approval for composite scheme of arrangement and amalgamation amongst the company, Next Radio (NRL), Next Mediaworks (NMW) and HT Music & Entertainment Company (HTM) and their respective shareholders.
The arrangement includes the demerger of the FM radio business of the Company, except the FM radio business operated by the company in Hyderabad and Uttar Pradesh, on a going concern basis and subsequent transfer and vesting of the same to NMW. The Board of Directors of the company at their meeting held on August 8, 2018, approved the same.
HT Media is engaged in printing and publishing of newspapers. The company’s segments include Printing & Publishing; Radio Broadcast & Entertainment, and Digital.
