MUMBAI: Saregama India has taken a 10 per cent stake in Timbre Media,a company floated by ex-WorldSpace Radio employees.

Saregama has also entered into a strategic partnership with Timbre Media to launch a variety of genre-based digital radio channels. The plan is to launch these channels on mobile, Internet and DTH services.The new radio channels will leverage Saregama's library as well as other labels. The content will range from old Hindi music, Hindustani classical, Carnatic classical, new Hindi music and ghazals.

The companies will also leverage the distribution network of Saregama and Timbre Media-developed channels to target the digital domains.

Saregama India managing director Apurv Nagpal said, It is a significant step forward for Saregama into the digital domain and we believe that together we will bring back the customer delight for evolved radio listening through this strategic alliance....

WorldSpace Radio was closed down in India on 31 December 2009, as the company filed for bankruptcy in the US. The company, which had 90 percent of the customers in India, said at that time that the potential buyer of WorldSpace's global assets has decided not to buy the assets relating to and supporting the subscription business in India....

Later, most of the employees, headed by Worldspace India managing director M Sebastian, formed Timbre Media in early 2010. The company also secured exclusive licence to use the WorldSpace brand in India and the Middle East.

Sebastian said, We're poised to take the big step now. Since early 2010 we have established the critical infrastructure needed for high quality services, including new studio facilities in Mumbai and Bangalore, We have been steadily building partnerships and clientele in the radio and music industry and Saregama, of course, needs no introduction – its history is the history of recorded music in our nation. The partnership with Saregama provides a tremendous boost to our ability to package and distribute quality music content and with them on our side we believe that we are in a strong position to reach a very broad audience and grow rapidly....

Talking to Radioandmusic.com, Sebastian said that Timber Media is in talks with players across the platforms. He said that while WorldSpace was confined to satellite, the new radio channels will be completely genre agnostic. We will also have flexible pricing approach, which will be based on platform as well as content,...Sebastian elaborated.

On the deal with Saregama, Sebastian added that Timber Media has got a good valuation with the partnership. He, however, refused to give details of the transactions.

Meanwhile, the company has a staff strength of over 80 people as it has absorbed most of the India team of WorldSpace Radio. Sebastian is hopeful that once the deals are struck, the company will see profits soon.

Timbre Media co-founder and head of content Seetal R Iyer added, Timbre Media was formed in 2010 and has drawn experience from professionals involved with WorldSpace earlier. We focused on returning those lost stations of WorldSpace to the people. For our listeners, this means that their favourite WorldSpace stations like Farishta, Jhankaar, Gandharv, and Shruti, to name a few, will be back again soon on various platforms....