HT Media has acquired 51 per cent stake in Next Mediaworks which operates seven FM radio stations across the country under the Radio One brand.
Next Mediaworks has FM stations across Delhi, Mumbai, Bengaluru, Kolkata, Chennai and Pune.
With this, HT Media now has 22 radio stations across 15 Indian cities. It has three stations each in Delhi and Mumbai, two stations each in Bengaluru, Chennai and Kolkata.
Harshad Jain, CEO – radio and entertainment business of HT Media has been named as CEO of NMW/NRL. He will lead all the three brands of Fever FM, Radio Nasha and Radio One.
Jain said, “This acquisition aims to provide the widest array of content, music and advertising options for our listeners and advertisers. Needless to mention, the combined set-up will provide growth opportunities for the talented employees on both sides. The company is now detailing the synergies of operations both at the front and the backend.”