Consolidation is picking in the radio industry. In a move to take on other radio giants, the two separately listed entities HT Media Limited and Next Mediaworks Limited has decided to consolidate their operation.
HT Media Limited (HTML) is a media conglomerate with interests in the newspaper, radio, digital media and education businesses. The Company is involved in printing and publishing of English newspaper ‘Hindustan Times’, Hindi newspaper ‘Hindustan’ and Business newspaper ‘Mint’.
HT Music & Entertainment Company Limited (HTMEL) is a wholly owned subsidiary of HTML which is operating the FM Radio station in Chennai.
Next Mediaworks Limited (NML) is a listed holding company of Next Radio Limited (NRL) which operates FM radio stations under the brand “Radio One” in Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Pune and Ahmedabad.
Radio Business of HTML
The company operates a radio stations under the brand names of ‘Fever’ and ‘Nasha’. Fever FM operates radio station in Delhi, Mumbai and Bengaluru (non-Kannada); while Radio Nasha, the premier retro-music focused station in Delhi and Mumbai.
Board of Directors of the Company, at their meeting held on 8‘” August 2018, have considered and approved the draft of the composite scheme of arrangement and amalgamation amongst HTML, NRL, NML and HTMEL.
Steps of the transaction
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