Date of investment: January 2005

Music Broadcast (‘MBPL’) launched India’s first 24-hour private FM station in Bengaluru in 2001. It broadcasts under the brand name “Radio City 91.1 FM”, India's first and leading hit music FM radio brand. When IVFA tuned up with MBPL, it had stations in 4 key cities – Bengaluru, Mumbai, Delhi and Lucknow.

Over time, Radio City has extended its presence to 20 Cities across India. Using state-of-the-art digital stereo FM, innovative programming, vivacious radio jockeys and experienced professionals, Radio City broadcasts the best quality of music and entertainment and is a leader in most of the markets it operates in.

In March 2010, MBPL raised the bar with the launch of Radio City Fun Ka Antenna, a one-of-its-kind Live online radio station with music across all genres, in both Hindi and International music. The year 2012 saw PlanetRadiocity.com launching four more online radio stations - Radiocity IndiPop, Radiocity Freedom Radio, Radiocity Smaran and Radio City Hindi.

Along with terrestrial radio and internet, MBPL has also added Radio City Connect to its basket of offerings. Radio City Connect is the Non Traditional Revenue (NTR) arm of Radio City 91.1 FM and provides complete 'one-window' 360advertising solutions on ground and on air.

MBPL has a 24% advertising market share and in terms of revenue ranks second.

• IVFA investment rationale >
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  FM Radio is highly under penetrated and expected to grow significantly in coming years Leader and pioneer in FM Radio with stations in 4 key cities With expected license regime change, the business will be profitable Attractive transaction structure
• IVFA value addition >
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  Acquired 16 new licenses at cost significantly lower than other bidders Helped in building a strong management team Introduced new programming and marketing initiatives Supported in building an excellent sales team and processes

Detailed information on the company is available at www.planetradiocity.com