Indiantelevision: Why the Indian FM radio space is suddenly exciting?
Two deals have taken place in quick succession on the eve of the bidding for the second phase of FM radio expansion. One – Radio Mid Day – has found a suitor in BBC Worldwide which is investing Rs 318.50 million. The other has exited – Aroon Purie’s Radio Today has sold to a consortium of three companies comprising Malaysian broadcaster Astro, NDTV and Hyderabad-based infotech company Value Labs.
Value Labs founder promoter and CEO Arjun Rao talks of building an interactive ecosystem across radio, TV, Internet and mobile. “We have provided interactive solutions to media for the last 6-7 years. As a logical next step, we decided to take ownersip in a leading radio network. We feel reasonably safe about our future plans,” he explained to Indiantelevision.com.
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