In near future, there may be not many mergers & acquisitions (M&A) in the FM radio space due to prohibitive rules put in place by the ministry of information and broadcasting (MIB).
According to Entertainment Network India Ltd (ENIL) MD and CEO Prashant Panday: “We plan to complete our acquisition of TV Today’s three metro stations, once the government gives its approval. But beyond this, I don’t see much activity. The rules for Mergers & Acquisitions (M&A) are too restrictive.”
The Times Group-owned FM Radio Company had recently entered into a non-binding agreement with TV Today Network to acquire three radio stations from the latter on a slump sale basis.
The two companies have signed a memorandum of understanding (MoU) on 16 March for the sale of TV Today’s New Delhi, Mumbai, and Kolkata radio stations to ENIL.
Panday added: “The government must realize that by not releasing additional spectrum, it is really wasting an opportunity to provide better services, make more money for itself, and release the full potential of the medium.”
The Times Group-owned FM Radio Company had recently entered into a non-binding agreement with TV Today Network to acquire three radio stations from the latter on a slump sale basis.
The two companies have signed a memorandum of understanding (MoU) on 16 March for the sale of TV Today’s New Delhi, Mumbai, and Kolkata radio stations to ENIL.
Panday added: “The government must realize that by not releasing additional spectrum, it is really wasting an opportunity to provide better services, make more money for itself, and release the full potential of the medium.”
No comments:
Post a Comment