Once the merger has all the requisite approvals, HT Media and its shareholders will hold 74 per cent and Next Radio shareholders will hold 26 per cent in the merged entity.
In a recent development, Next Radio Ltd (94.3 Radio One) and HT Media Ltd (Fever and Radio-Nasha) are proposing a merger to take advantage of a larger combined metro play subject to the approval of shareholders, legal bodies and the Ministry of Information and Broadcasting.
While Radio One is a pioneer in the international format space, Fever & Radio Nasha are exceptional leaders in the Hindi CHR & Retro radio space respectively. This proposed coming together allows the merged entity to offer enhanced value for listeners and advertisers by offering them clearly segmented high value products. 7 stations of Fever FM + Radio Nasha (Delhi-2, Mumbai-2, Bangalore, Kolkata & Chennai) and all 6 stations of Radio One (Delhi, Mumbai, Bangalore, Kolkata, Chennai, & Pune) will aim to come together in a proposed merged entity.
Both radio companies, will currently continue to operate ‘independently’ as before since the proposed merger is subject to government approval. Once the merger has all the requisite approvals, HT Media and its shareholders will hold 74% and Next Radio shareholders will hold 26% in the merged entity.
Vineet Singh Hukmani, MD & CEO Radio One and Harshad Jain, CEO Fever FM 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 products.