Please find attached herewith Disclosure under Regulation 30 of SEBI LODR w.r.t Surrender of Radio Licenses
HTMEDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
HT Media Limited and two subsidiaries (Next Radio Limited and HT Music & Entertainment Company Limited) have decided to voluntarily surrender their FM radio licenses issued by the Ministry of Information and Broadcasting. The licenses being surrendered include Radio 'Nasha' (Mumbai), Radio One (Delhi, Mumbai, Bangalore), and Radio 'Fever' (Chennai). For FY25, these radio stations generated turnover of Rs. 29.19 Crores, contributing only 1.62% to the company's consolidated revenue. However, the radio business has a negative networth of Rs. -172.08 Crores (representing -10.33% of consolidated networth). The company states the radio stations are financially and strategically unviable. Operations will cease by June 15, 2026.
The closure is positive for shareholders as it removes a loss-making division (Rs. -172 Crores networth drag) from the portfolio. The financial impact on revenue is minimal at ~1.6%, and the company's overall networth of ~Rs. 1,666 Crores remains strong.