HT Media strengthens FM radio portfolio with acquisition of 51% stake in Next Mediaworks
MUMBAI: HT Media has acquired 51% majority stake in Next Mediaworks Limited (NMW), which operates seven FM radio stations across major metros through its subsidiary Next Radio Limited (NRL), under the brand ‘Radio One’, including some in the international genre.
NRL’s FM stations across Delhi, Mumbai, Bengaluru, Kolkata, Chennai, Pune and one more have now come into HT Media fold. This has positioned HTML as the strongest radio player, with three stations each in the biggest metro markets of Delhi & Mumbai and two stations each in Bengaluru, Chennai & Kolkata. Apart from the above, the key metro market of Pune has also got added to the network.
HT Media, along with Next Radio, now has 22 stations, and a national footprint spanning 15 cities.
HT Media CEO – Radio & Entertainment Business Harshad Jain has been named as CEO of NMW/NRL. He will lead all the three brands of Fever FM, Radio Nasha and Radio One.
Talking about the development, Jain said, “This acquisition aims to provide the widest array of content, music and advertising options for our listeners and advertisers. Needless to mention, the combined set-up will provide growth opportunities for talented employees on both sides. The company is now detailing the synergies of operations both at the front and the backend.”
While Fever FM and Radio Nasha are leaders in the Hindi contemporary hit radio (CHR) and retro radio space respectively, Radio One is a pioneer in the international format.
HT Media is the printer & publisher of three leading dailies of the country namely ‘Hindustan Times’, ‘Mint’ and ‘Hindustan’ (through subsidiary company), and operates popular Hindi FM Radio channels ‘Fever FM’ and ‘Radio Nasha’.