Music Broadcast (MBL) has entered into a definitive binding agreement for the acquisition of Reliance Broadcast Network. The company will acquire 24% of the equity share capital of Reliance Broadcast Network on or before July 31, 2019.
The main objective for acquisition is to expand the company’s foot print Pan India including Multi frequency in major metros and large cities. The combined network will have 79 Stations making it the largest radio network in India with FM foot print of approximately 82% of FM markets.
Music Broadcast operates a network of FM radio channels in India. It broadcasts Hindi and international music in various genres, such as film, non-film, Sufi, ghazals, lounge, current, and retro, as well as various advertising and entertainment solutions.
