MUMBAI: The FM radio sector is attracting a lot of new players who hail from diverse backgrounds, indicating a further fragmentation of the medium.
The combined net worth of the 13 new applicants is Rs 125.48 crore (Rs 1.25 billion), which is less than one-fourth that of the largest private FM broadcaster Entertainment Network India Ltd (ENIL).
Sitting at the top of the net worth table, however, is Kalanithi Maran-promoted Sun TV Network. The company, which holds 97.78 per cent stake in Kal Radio and 59 per cent stake in South Asia FM Ltd, has a net worth of Rs 3,388.17 crore (Rs 33.88 billion).
Anil Ambani-owned Reliance Broadcast Network Ltd (RBNL), which has the largest number of radio stations under the Big FM brand, has a net worth of just Rs 10.88 crore (Rs 108.8 million) as its book contains liabilities to the tune of Rs 676.27 crore (Rs 6.76 billion).
RBNL also has television broadcasting business. Coming back to the 13 new applicants, only four players have a net worth of above Rs 10 crore (Rs 100 million).
These are Odisha Television Ltd (Rs 46.1 crore), Shahi Shipping Ltd (Rs 27.31 crore), Abhijit Realtors & Infraventures Pvt Ltd (Rs 15.83 crore), and Embassy Nirman Pvt Ltd (Rs 10.14 crore).
The promoters of Odisha Television also run Ortel Communications, a multi-system operator which recently raised capital through an initial public offering (IPO). Digging deeper, you will find six applicants having net worth below Rs 2 crore (Rs 20 million
Read more at:
http://www.televisionpost.com/printradio/net-worth-of-13-new-fm-radio-applicants-is-less-than-one-fourth-of-enil/
