Zee forays into radio biz through UAE company Hum FM takeover
Hum FM has a legacy of almost two decades and a current market share of 26 per cent.
New Delhi: Zee Entertainment Enterprises Limited (ZEEL) has forayed into the radio segment by acquiring UAE's leading radio station Hum 106.2 FM for an undisclosed amount from Shamal Media Services.
Following the acquisition, the Essel group firm has become the first entertainment network in the region to provide media solution to its partners through television, radio and digital platforms, ZEEL said in a statement.
It was the first to launch a Bollywood TV channel, Zee Aflam, in 2008 for the Arab audience as well introduce the Arab world to Hindi programmes dubbed in Arabic with Zee Alwan in 2012.
ZEEL CEO, International Broadcast Business, Amit Goenka said: "Radio has been an area of interest for ZEE for quite some time and an after extensive planning and studying of the brand values, ratings and revenue generated by various stations, we felt that an investment in Hum FM was the best option."
He added that Hum FM has a legacy of almost two decades and a current market share of 26 per cent. It is the top Hindi radio station in the UAE.
"ZEE is confident that it can leverage its very strong South-Asian brand connect onto radio and offer a synergy of television, radio and digital that could revolutionise the entertainment industry in the UAE," he added.
106.2 Hum FM was previously owned and operated by Shamal Media Services. The station is a frequency originating from the Emirate of Umm Al Quwain and forms part of Umm Al Quwain Broadcasting Network (UBN), the statement added.
ZEEL CEO (MENA and APAC) Mukund Cairae said the new venture has all the ingredients to redefine the radio industry.