RADIOCITY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Madras High Court has directed Music Broadcast Limited (Radio City) to produce music logs for SIMCA (South Indian Music Companies' Association) members covering August 2010 to December 2020, and to calculate royalty owed at the needle-per-hour rate as per its individual agreements with these members. The company must comply within four weeks, with the next hearing scheduled for September 26, 2025. Importantly, the court has not ordered any immediate payment to the petitioner or to the court at this stage. The company has stated it will file an appeal against the order before the appropriate forum. The matter is in connection with a contempt petition filed by SIMCA against the company.
Near-term impact is limited as no monetary payment has been ordered yet, but a potential royalty liability spanning a 10-year period (2010-2020) could emerge depending on the appeal outcome and next hearing, which investors should monitor closely.