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HT Media Board approves Rs 400 crore investment in its Radio business

12-June-2018
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HT Media Board approves Rs 400 crore investment in its Radio business

The Board of Directors of HT Media Limited has approved the proposal to invest Rs 400 crore to fund expansion and growth opportunities in its FM Radio business vertical.

It should be noted that the FM radio business of the media giant is held under its wholly-owned subsidiary company, HT Media and Entertainment Company Limited.

“This is to inform you that the Board of Directors of the Company at its meeting held on June 6, 2018 (commenced at 11. 00 A.M and concluded at 12 Noon) has approved the proposal to invest an amount up to Rs. 400 Crore in one or more tranches, in its wholly-owned subsidiary company namely, HT Music and Entertainment Company Limited to fund expansion/growth opportunities in its FM Radio business vertical,” HT Media informed the BSE.

Fever 104 FM is the company’s premium radio station currently operational in Delhi, Mumbai, Bangalore and Kolkata and the other radio station it operates is Radio Nasha 91.9 FM that is operational in Mumbai and Delhi.

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