MUMBAI: Radio Mirchi’s taking over of TV Today’s radio biz has been impending since July 2015, when the Ministry of Information and Broadcasting (MIB) had rejected the proposal. And now, Radio Mirchi CEO Prashant Panday has spilled beans on the status of this deal.
Speaking about the same Panday said, “Our proposal to take over TV Today’s three radio stations in Delhi, Mumbai and Kolkata is still pending approval from MIB.”
“We will share details as soon as MIB approves the takeover,” he further added.
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Besides, Radio Mirchi has launched many new stations in 2018. On being asked if there more station launches happening this year, Panday exclaimed, “We are in 56 cities today with 66 channels. By the end of this financial year, we will finish all our launches and reach a total of 73 stations in 63 cities. With three stations from TV Today, our final tally should be 76 stations in 63 cities.”
When asked, among the radio stations launched in 2018, which stations have generated more profit Prashant Panday explained, “In 2018, we have launched mostly small stations under batch-2 of Phase-3 policy. These are still to achieve break-even. It usually takes six quarters to hit break-even. Our stations launched in 2016 and 2017 were the bigger stations under batch-1. These have already turned profitable and are doing very well in fact.”
Well, while Radio Mirchi’s new radio stations launch spree continues, we will have to wait to know, when TV Today’s three stations will add to the pool in the near future.
