Top Story

e4m_logo.png

Home >> Media - Radio >> Article

Adlabs approves demerger of radio division, to launch FM radio in four cities by October

25-April-2006
Font Size   16
Share
Adlabs approves demerger of radio division, to launch FM radio in four cities by October

Anil Ambani owned Adlabs Films Ltd at its Board of Director’s meeting held on April 23 approved the proposal for demerger of the FM radio business into a wholly owned subsidiary (SPV). It also approved issue of pro-rata shares by the SPV to all shareholders of the company in the ratio of two shares of the SPV for every share of the company, without any payment.

Speaking to exchange4media, Rajesh Sawhney, President, Reliance Entertainment, said, “The demerger of the radio business will allow it to raise funds through equity or debt instruments and will bring further value to Adlabs shareholders.”

Earlier, speaking to CNBC, Manmohan Shetty, MD, Adlabs Films, said that the company was planning to launch four FM radio stations by early October. “Everything is in place, including the manpower. The first four stations will come up in October this year; that’s the target we have.”

The company has won 45 licenses under the FM Phase II expansion, including the four metros where the government has allowed interim transmission.

Shetty further told CNBC that the demerger would start in the October-December quarter.

The company also informed BSE that two other subsidiaries of the company – Entertainment One India Ltd and Mukta Adlabs Digital Exhibition Pvt Ltd – would be merged with the company.

Tags

Aparna Bhosle, Business Cluster Head - Premium & FTA GEC channels - ‎ZEEL, on its new property, sponsors, investment on acquisition and response to BBC First

In an interview with exchange4media, Ferzad Palia says that most successful brands are not those who spend the most money

As Milind Pathak takes over as Managing Director - Southeast Asia, Httpool, we chat with him on his new role, aspirations and his plans to aggressively penetrate the operations of the group in the Southeast Asian market

The group released the Little Hearts online-only campaign, #BreakSomeHearts, early this year and is on the path to make many more of its brands available on the digital platform

As Milind Pathak takes over as Managing Director - Southeast Asia, Httpool, we chat with him on his new role, aspirations and his plans to aggressively penetrate the operations of the group in the Sou...

The group released the Little Hearts online-only campaign, #BreakSomeHearts, early this year and is on the path to make many more of its brands available on the digital platform

Aroon Purie, the India Today Group Chairman and Editor-in-Chief today appointed his daughter Kallie Purie as the Vice Chairperson of the group