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AIR has earned gross ad revenue of about Rs 186 crore in the current financial year up to January 2017, said Rajyavardhan Singh Rathore.
Music Broadcast’s shares closed at Rs 373.15 apiece on BSE, up 12% from issue price. Market cap stood at Rs 2,129 crore.
Driven by strong retail demand, the IPO of Music Broadcast was oversubscribed 2.19 times on the second day of the issue.
HT Media has expanded its strategic partnership with fashion online retailer Koovs.com to celebrate International Women’s Day.
Music Broadcast Ltd has raised Rs146.5 crore from anchor investors ahead of its IPO. Shares were allotted at the upper price band of Rs 333 per share.
The IRS 2013 report, which attracted harsh criticism from the print media companies, will continue to be in abeyance till the completion of a revalidation and audit of the field work. The decision was taken by the MRUC board and the managing committee of the RSCI.
Amid stiff opposition from print media companies, the Readership Studies Council of India (RSCI) has decided to suspend the new Indian Readership Survey (IRS) data, which was released on 28 January.
The Association of Indian Magazines has sent a letter to the MRUC, asking it to ‘immediately withdraw IRS 2013 findings’. Such ‘faulty’ reporting of readership numbers can have ‘extremely damaging impact’ on business, says AIM.
While calls for a correction in the data have become louder, MRUC has stubbornly defended its new format and methodology. The new IRS helps to tap into new communities and understand demographics for a larger India, MRUC says.
The fight between the print publishers and the MRUC has taken an ugly turn. Within an hour after being snubbed by the MRUC, INS issues an advisory to all its member publications, urging them to reject IRS data and take steps for individual restitution.