MUMBAI: The big news is that HT Media’s Fever FM, Radio Nasha and Next MediaWorks Ltd’s Radio One are in talks of merging for a bigger platform.
Radio One, Fever FM and Radio Nasha owners announced the proposal of merging the two ventures. This will result in a larger combined metro play, subject to the approval of shareholders, legal bodies and the Ministry of Information and Broadcasting.
Hindustan Times Media (HT Media) owns Radio Nasha and Fever FM that consists of retro content and contemporary radio station (CRS) respectively. But, Radio One purely has an international format with English content.
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The merging proposal will offer enhanced value for listeners and advertisers by offering them clearly segmented high-value products. Seven stations of Fever FM + Radio Nasha (Delhi-2, Mumbai-2, Bangalore, Kolkata and Chennai) and all six stations of Radio One (Delhi, Mumbai, Bangalore, Kolkata, Chennai and Pune) will aim to come together in the proposed merged entity.
HT Media and Next MediaWorks Ltd’s radio stations will currently work independently. The merging procedure and approvals will take some time as the companies have taken a time-frame of 12 to 18 months.
Once the merger has all the requisite approvals, HT Media and its shareholders will hold 74 per cent and Next MediaWorks Ltd’s shareholders will hold 26 per cent in the merged entity.
As per a renowned publication, Hindustan Times chairperson and editorial director Shobhana Bhartia announced the strategic move as she said, “Radio is a fast-growing segment and research has shown that it has significant urban listenership. Radio One’s merger with our metro operations gives us both a complete bouquet across English and Hindi in all of the country’s biggest radio markets and will help us serve listeners and advertisers better. Such consolidation is another sign of the growing maturity of the radio market. We’re convinced that the merger will add value to all stakeholders. We look forward to working with Radio One to realize our common vision.”
Enthused to harness the synergies that will emerge, Next Mediaworks Ltd chairman Tariq Ansari said, “We are delighted to be combining our radio operations with the metro stations of HT Media. There is a strong operating logic for this combination – multiple formats in the most lucrative urban markets in the country with all the cost synergies and complementary skills to better service listeners and advertisers. Radio One has exhibited strong competence in building profitable segmented radio stations and HT Media is a powerhouse in the mass radio space. We believe that this merger will unlock value for all stakeholders and look forward to working with the excellent management team at HTML to make this happen.”
Until the official amalgamation, Radio One MD and CEO Vineet Singh Hukmani and, Fever FM/Radio Nasha CEO Harshad Jain will continue to function in their respective leadership roles.
Sales teams of both companies will continue to function independently as before and will not sell any combination of products.
Meanwhile, Radio Nasha, who is in a trademark dispute with Radio Mirchi currently has 30 days to rectify the station’s name and content.
Also Read: No ‘Nasha’ for HT Media says Delhi HC
