I&B Ministry
India’s second radio operator MBL seeks to list
MUMBAI: Music Broadcast Ltd (MBL), the FM radio unit of the media house Jagran Prakashan backed by the private equity giant Blackstone, on Monday, filed draft documents with the capital markets regulator Securities and Exchange Board of India for an initial public offering.
ICICI Securities is the sole financial adviser for the issue. The IPO will comprise of a fresh issue aggregating upto Rs. 4,000 million (Rs 400 crore) and an offer for sale of up to 2,658,518 equity shares by certain existing shareholders of MBL. JPL is not selling any of its shareholding in MBL under the offer for sale portion.
MBL will be the second radio operator to list on BSE after Times Group’s Entertainment Network India Ltd, which runs Radio Mirchi, India’s top FM radio business label.
Jagran entered the radio segment with the acquisition of Music Broadcast Pvt Ltd in December 2014 from Rupert Murdoch-controlled 21st Century Fox’s Star Group and the private equity company India Value Fund Advisors.
The company plans to use the proceeds to redeem non-convertible debentures, repay inter-corporate deposits as well as for general corporate purposes.
MBL has a presence in 29 cities. Its radio stations include eight Radio Mantra stations. The company says its radio stations reached out to 49.60 million listeners in 23 cities covered by AZ Research as on 31 March 2016.
I&B Ministry
MIB halts news TRPs for four weeks over sensational US-Iran conflict coverage
Government flags panic-mongering in television war coverage
NEW DELHI: India’s Ministry of Information and Broadcasting directed the Broadcast Audience Research Council India (BARC) to suspend television ratings for news channels for four weeks amid concerns over sensational coverage of the ongoing conflict involving the United States and Iran.
According to media reports, the move intends to curb excessive dramatisation in television reporting that could trigger unnecessary public anxiety.
Officials have observed that several news broadcasters are amplifying developments in the conflict in ways that may fuel panic among viewers. By temporarily halting the publication of viewership data, the ministry hopes to ease the competitive pressure on channels to chase ratings through sensational content.
The suspension will remain in effect for one month for now. During this period, television news channels will continue to broadcast as usual, but their audience measurement figures will neither be counted nor released.
Authorities will monitor both the evolving geopolitical situation and the tone of television coverage during the pause. The four-week suspension could be extended if the government believes the risk of panic-mongering or sensational reporting persists.
