MBL expands its footprint- acquires radio station in Kolkata
The new acquisition sees MBL's entry into one of the top 5 radio markets in the country
- The transaction allows MBL to enter into the Kolkata market which is one of the top 5 markets in the country.
- Friends FM is an established brand since the last 10 years.
- Focus is to tap into the large potential from national advertisers
- MBL has had a sales alliance with AOPL since the last 5 years.
- Transaction is expected to be value accretive and help in improving the EBITDA margins
- Under the terms of the agreement MBL will acquire 100% ownership of the radio division of AOPL, subject to MIB approval
- The transaction is by way of slump sale on a going concern basis
- Revenue details of AOPL for the last two and a half years:
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