MBL expands its footprint- acquires radio station in Kolkata

The new acquisition sees MBL's entry into one of the top 5 radio markets in the country

by exchange4media Staff
Published: Apr 23, 2018 7:29 PM | 2 min read

Music Broadcast Limited (MBL), India’s 1st private FM radio broadcaster, has announced that its board has approved the acquisition of the radio division of Ananda Offset Private Limited by way of slump sale.

Strategic Rationale:

The transaction allows MBL to enter into the Kolkata market which is one of the top 5 markets in the country.

Friends FM is an established brand since the last 10 years.

Focus is to tap into the large potential from national advertisers

MBL has had a sales alliance with AOPL since the last 5 years.

Transaction is expected to be value accretive and help in improving the EBITDA margins

Transaction Details:

Under the terms of the agreement MBL will acquire 100% ownership of the radio division of AOPL, subject to MIB approval

The transaction is by way of slump sale on a going concern basis

Revenue details of AOPL for the last two and a half years:

Commenting on the results Ms. Apurva Purohit, Director Music Broadcast Ltd. said: “We are happy to announce that the board today approved the acquisition of the radio division of Ananda Offset Private Limited (AOPL). This acquisition gives us access into the Kolkata market, which is considered as one of the top 5 markets in the country which was earlier not present in our bouquet. I am very confident that the coming together of a strong and established brand like ‘Friends FM’, their high quality local team, and our national footprint across all key cities in India will give us several opportunities to create EPS accretive synergies.

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Published On: Apr 23, 2018 7:29 PM

Tags Radio city Music broadcast limited Ananda offset private limited