MUMBAI: Malaysia-based Astro Group is increasing its stake in Sun TV Network's radio subsidiary South Asia FM Ltd (SAFL) by 13.02 per cent, says a source familiar with the development.
South Asia Multimedia Technologies currently owns 6.98 per cent stake in SAFL and has expressed intent to enhance its stake to 20 per cent through fresh capital infusion.
As reported earlier by Indiantelevision.com, Astro would be picking up equity in SAFL and Sun TV's stake would likely fall by five per cent to 60 per cent.
It is not clear yet what NDTV's holding would be after South Asia Multimedia Technologies hikes up its stake. NDTV currently holds three per cent stake in SAFL, the source adds.
SAFL has got the FIPB (foreign investment promotion board) nod to increase the foreign direct equity participation. Click here to read more
MUMBAI: Malaysia-based Astro Group is increasing its stake in Sun TV Network's radio subsidiary South Asia FM Ltd (SAFL) by 13.02 per cent, says a source familiar with the development.
South Asia Multimedia Technologies currently owns 6.98 per cent stake in SAFL and has expressed intent to enhance its stake to 20 per cent through fresh capital infusion.
As reported earlier by Indiantelevision.com, Astro would be picking up equity in SAFL and Sun TV's stake would likely fall by five per cent to 60 per cent.
It is not clear yet what NDTV's holding would be after South Asia Multimedia Technologies hikes up its stake. NDTV currently holds three per cent stake in SAFL, the source adds.
SAFL has got the FIPB (foreign investment promotion board) nod to increase the foreign direct equity participation. Click here to read more
I think it would be really good if SFM is rebranded as RED FM. But what needs to be seen is whether SFM manages to 'Bajao' and connect with the listeners like RED FM. Some of the shows on SFM are really boring. On the other hand, RED FM has some great RJs, great songs, great programming and to top it all, great presentation and self-promotion.
Another advantage would be that listeners would be able to catch all updates/action happening in the shows for which RED FM is the radio partner.
I would be looking forward to listening to RED FM Pune. And am really glad that SFM Pune is the first one to be renamed. Lets hope that the result is worth the wait.
