We met the management of Music Broadcast (MBL) to understand its growth prospects and plans ahead. It is one of the leading private FM radio broadcasters in India with the brand Radio City. The company has 39 frequencies currently, including eight stations acquired from Radio Mantra and 11 acquired via Phase III auctions. MBL's operating revenues, EBITDA grew at 21%, 29% CAGR in FY14-17 to | 271.4 crore, | 91.1 crore, respectively. Radio City posted a six year CAGR of ~12.1% vs. 9.1% by industry in advertising volumes. It indicated triggers such as...