MUMBAI: DB Corp board yesterday approved the proposal to demerge their radio business- My FM from its subsidiary Synergy Media Entertainment (SMEL) into itself
SMEL`s radio business operates under the brand My FM 94.3 airing across 17 FM radio stations spread across the seven states of Rajasthan, Haryana, Punjab, Gujarat, Maharashtra, Madhya Pradesh and Chattisgarh, MY FM is available in Jaipur, Jodhpur, Chandigarh, Bhopal, Jalandhar, Ahmedabad, Surat, Udaipur, Gwalior, Indore, Ajmer, Amritsar, Bilaspur, Nagpur, Raipur, Kota and Jabalpur.
Commenting on the demerger, Synergy Media Entertainment CEO Harrish Bhatia says, The restructuring proposed with DB Corp reinforces our growing confidence in the growth potential of the radio business. Our ability to achieve EBITDA breakeven this year, driven by a top line growth of around 30 per cent in the shortest period of time of launch of its all stations and in an aggressive media foray, reflects our growing position and strong value proposition to customers. Our presence in 17 cities in Tier 2 and Tier 3 cities spurs our ability to localize content which is key to connecting with customers and enable us to deliver more relevant advertisement solutions….