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MUMBAI:
Big FM, the radio venture of Reliance ADAG's Adlabs, has posted
a loss of Rs 945.02 million (before current and deferred tax)
for the 15-month period ended 30 June 2007.
This
is the first time ADAG has made the figures of Big FM public.
The radio business is in investment mode and the start up
losses were expected.
Net
income from the radio business during this period stands at
Rs 332.03 million while expenditure is at Rs 1.26 billion.
Big
FM is housed inside Adlabs Films but ADAG has applied to the
information and broadcasting ministry for transferring it
to a separate entity, Reliance Unicom Ltd. The I&B is
yet to approve the demerger proposal.
Big
FM currently operates in 35 out of the 45 stations it had
bid for in the second phase of FM expansion.
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