The Ministry of Information and Broadcasting has given its approval to the Radio City 91.1 FM and Jagran Prakashan deal. Radio City is now officially a part of Jagran Prakashan Private Ltd (JPL).
Talking about the development, Apurva Purohit, CEO, Radio City 91.1FM, says, "This is great news for both Jagran & Radio City and, more importantly, signals a desire amongst all stakeholders to see that the FM industry flourishes and grows. I am glad that the approval is in place now. With this, the pioneer and leader in FM gets to be a part of one of the largest media houses in India. We now look forward to expanding aggressively in the upcoming phase 3 and cross leveraging on strengths."
Shailesh Gupta, director, JPL, adds, "Great news. The deal further consolidates JPL's leadership position and complements our other businesses of Print, OOH, Digital and Activation. It gives us a greater leverage to provide better solutions to our advertisers. Radio City is one of the most exciting FM brands in the industry today, and together we look forward to take it to newer heights."