The Indian media company, HT Media proclaimed that its radio arm has bought 51 per cent stake in Next Mediaworks. The Indian media firm, Next Mediaworks operates radio stations in major metro cities through its radio arm, Next Radio Ltd.
Whilst HT Media has two renowned Hindi radio channels that are, Radio Nasha and Fever FM. The company is prominent in metro cities, owning two radio stations in Delhi and Mumbai and one radio station each in Hyderabad, Chennai, Bengaluru and Kolkata. Currently, Next Radio, a subsidiary of Next Mediaworks, operates in Delhi, Mumbai, Bengaluru, Chennai, Pune, Kolkata and Ahmedabad.
On the acquisition of radio one, HT media said that this acquisition will make the company strongest radio company in the thriving markets.
This acquisition aims to provide the widest array of content, music and advertising options for our listeners and advertisers. Needless to mention, the combined setup will provide growth opportunities for talented employees on both sides. The company is now detailing out the synergies of operations both at the front and the back end," Harshad Jain, CEO of HT Media, told the Indian daily news, Mint.
Concentrating on major cities like Pune, Jain further said the company was yet to become a leading media company in metro regions.
We are looking to have the lions share in listenership and revenues," Harshad Jain told the Indian daily news, HT Media.