Board of Next Radio approves transfer of FM radio broadcasting business in Ahmedabad

To its subsidiary - Syngience Broadcast Ahmedabad

Next Mediaworks announced that the Board of Directors of Next Radio (Company's subsidiary) has, at its meeting held on 8 June 2017, approved transfer of its FM radio broadcasting business at Ahmedabad (the 'Undertaking') to its wholly owned subsidiary viz. Syngience Broadcast Ahmedabad. The Board of Directors of NRL has also, at the aforementioned meeting, approved the Scheme of Arrangement, with appointed date as 1 April 2017. The said transfer of the Undertaking is subject to the approval of the National Company Law Tribunal and the Ministry of Information & Broadcasting.

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