<p>Foraying into radio business, leading media group Jagran Prakashan (JPL) announced acquisition of Music Broadcast, which operates the Radio City FM stations.<br /><br /></p>.<p>Jagran Prakashan, which runs leading Hindi daily Dainik Jagran, said the all-cash acquisition of Music Broadcast Pvt Ltd (MBPL), which had a turnover of Rs 161.8 crore last fiscal, is expected to provide strong return on investment.<br />The exact deal size could not be ascertained.<br /><br />Jagran Prakashan CMD Mahendra Mohan Gupta said, “This deal will catapult JPL into a leadership position in the radio industry and enable us to benefit from the rapid growth in radio advertising.”<br /><br />Radio business will complement JPL print, outdoor activation and digital business and enable deeper inroads with advertisers both at national and local level, he said.<br /><br />"The radio business has witnessed significant growth in recent past and is expected to grow at more than 18 per cent CAGR in the coming years,” Gupta said.<br /><br />The acquisition will be funded through internal accruals and investments and will be an all cash deal, JPL said.<br /><br />Apart from Dainik Jagran, the group's publications include Midday, Naiduniya, I-Next, City Plus and Punjabi Jagran.<br /><br />Radio City operates 20 FM stations in seven states. It has presence in metros as Delhi, Mumbai, Bengaluru and Lucknow and has a listener base of 10.8 million.<br /></p>
<p>Foraying into radio business, leading media group Jagran Prakashan (JPL) announced acquisition of Music Broadcast, which operates the Radio City FM stations.<br /><br /></p>.<p>Jagran Prakashan, which runs leading Hindi daily Dainik Jagran, said the all-cash acquisition of Music Broadcast Pvt Ltd (MBPL), which had a turnover of Rs 161.8 crore last fiscal, is expected to provide strong return on investment.<br />The exact deal size could not be ascertained.<br /><br />Jagran Prakashan CMD Mahendra Mohan Gupta said, “This deal will catapult JPL into a leadership position in the radio industry and enable us to benefit from the rapid growth in radio advertising.”<br /><br />Radio business will complement JPL print, outdoor activation and digital business and enable deeper inroads with advertisers both at national and local level, he said.<br /><br />"The radio business has witnessed significant growth in recent past and is expected to grow at more than 18 per cent CAGR in the coming years,” Gupta said.<br /><br />The acquisition will be funded through internal accruals and investments and will be an all cash deal, JPL said.<br /><br />Apart from Dainik Jagran, the group's publications include Midday, Naiduniya, I-Next, City Plus and Punjabi Jagran.<br /><br />Radio City operates 20 FM stations in seven states. It has presence in metros as Delhi, Mumbai, Bengaluru and Lucknow and has a listener base of 10.8 million.<br /></p>