Campaign India Team
Dec 17, 2014

Jagran Prakashan to acquire Radio City

The acquisition is subject to regulatory approvals

Jagran Prakashan to acquire Radio City
The board of Jagran Prakashan has approved the company's entry into the radio industry via the acquisition of Music Broadcast Private Limited (MPCL). MPCL runs radio channel Radio City. 
 
The acquisition is subject to regulatory approvals from the Ministry of Information and Broadcasting and execution of binding agreements. 
 
Mahendra Mohan Gupta, CMD, Jagran Prakashan, said, "The radio business has witnessed significant growth in the recent past and is expected to grow at 18 per cent CAGR in the coming years, per KPMG FICCI. The deal will catapult JPL in a leadership position in the radio industry and enable the company to benefit from the rapid growth in radio advertising. Acquisition of Radio City further consolidates our position as India's leading media and communications group. The radio business will complement our print, outdoor, activation and digital businesses and enable deeper inroads with advertisers both at national and local level."
 
A release from Jagran informed that the acquistion will primarlily be funded from internal accruals and investments. 
Source:
Campaign India

Related Articles

Just Published

2 hours ago

Farming for change: How innovative marketing is ...

From fields to social media feeds, creative campaigns, regional influencers and digital storytelling are changing agricultural marketing in India.

3 hours ago

82% consumers value authenticity and simplicity in ...

Nearly 75% global consumers want brands to entertain them, while 73% want brands to 'wow' them.

4 hours ago

OrangeGlobal expands leadership team

OrangeGlobal Stories has onboarded senior industry professionals to head its key business functions as it prepares to launch its Eshtory platform.

4 hours ago

Google rolls out several new PMax updates following ...

Intending to improve brand safety, depth of search and customer segmentation, the new tools further integrate Google AI into advertisers’ campaigns.