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Music Broadcast acquires Ananda Offset’s Friends FM in Kolkata

Under the terms of the agreement, MBL will acquire 100% ownership of the radio division of AOPL, subject to MIB approval

The board of Music Broadcast (MBL) has approved the acquisition of the radio division of Ananda Offset, called Friends FM, by way of slump sale. AOPL holds a channel licence in Kolkata under the brand name ‘Friends 91.9 FM’, which it had acquired under the Phase II regime and is operational since 2007.

The transaction allows MBL to enter into the Kolkata market, which is one of the top five markets in the country. Friends FM is an established brand since the last 10 years. The focus is to untap the large potential from national advertisers. MBL had a sales alliance with AOPL since the last five years. The transaction is expected to be value accretive and help in improving the EBITDA margins.

Under the terms of the agreement, MBL will acquire 100% ownership of the radio division of AOPL, subject to MIB approval. The transaction is by way of slump sale.

Details of revenues of AOPL

Apurva Purohit, Director, MBL, said, “We are happy to announce that the board today approved the acquisition of the radio division of Ananda Offset Private Limited (AOPL). This acquisition gives us access in the Kolkata market which is considered as one of the top five markets in the country, which was earlier not present in our bouquet. I am very confident that the coming together of a strong and established brand like ‘Friends FM’, the high quality local team it has and our national footprint across all key cities in India will give us several opportunities to create EPS accretive synergies.”

Other than the radio division, AOPL has an offset division that is carrying out printing of daily newspapers, periodicals, news magazines and other periodicals in heatset web offset printing machines.

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