May 2026
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Largest Radio Broadcasting Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Sun TV Network, D B Corp, Jagran Prakashan, New Delhi Television and T.V. Today Network.
 | Sun TV Network Ltd is a media and entertainment company. The group owns and operates a series of television networks across four languages in the news, music, action, life, movies, kids, and comedy genres. It also airs FM stations in several Indian languages. Its business activities are reported under a single segment, being Media and Entertainment. The company generates revenues from advertising, broadcasting fees, International subscriptions, other subscriptions, movie distribution, and content trading. Geographically, the group is focused on the Indian market with a few operations outside India. | $5 | -16% | $2B | $1B | 3.2x | 5.2x | ||
| D B Corp Ltd is an Indian print media company with a presence in the radio and digital sectors. The company publishes six newspapers in Hindi, Gujarati, Marathi, and English across 14 states with a total readership of approximately forty-four million. The flagship newspaper brands of the Group are Dainik Bhaskar, Divya Bhaskar, and Divya Marathi. MY FM, the company operates through two segments such as the Printing/Publishing and Allied Business segment, which encompasses newspapers, magazines, printing job work, and internet and mobile interactive services, and the Radio segment, which focuses on radio broadcasting. | $2 | -30% | $384M | $309M | 1.2x | 5.1x | ||
| Jagran Prakashan Ltd is a India based company along with subsidiaries engaged in printing and publication of newspapers and magazines and operating private FM radio stations through the brand Radio City. The company has organized its business into three categories: Printing, publishing, and digital; FM Radio business; and Others comprising outdoor advertising and event management and activation services. The company's majority of revenue is derived through the printing, publishing, and digital segment from India. Some of the company's popular publications include Dainik Jagran, Mid-day, Sakhi, Inquilab, and Naidunia among others. | $1 | +3% | $175M | $86M | 0.4x | 2.2x | ||
| New Delhi Television Ltd is in the business of television media and currently operates three channels including a dual channel namely NDTV 24x7, NDTV India, and NDTV Profit. The subsidiaries of the company include NDTV Convergence Ltd and NDTV World-wide Ltd offers consultancy for setting up of local television news channels in emerging markets across the world. The company also has associates and joint venture engaged into different e-commerce businesses on various platforms such as www.Gadgets360.com and www.mojarto.com. The company operates in India, America, Europe and Others. | $1 | -37% | $97M | $141M | 2.9x | (7.7x) | ||
| T.V. Today Network Ltd is engaged in Television programming and broadcasting activities. The company operates in various markets, such as Television, Digital Media, and Radio. The group provides advertisement space on its television news channels Aaj Tak, India Today, Good News Today, and Aaj Tak HD (India and overseas), various websites, mobile apps, social media platforms, and radio 104.8 Ishq FM. The activity of the group is functioned in India and derives key revenue through Advertisement and other related operations. | $1 | -36% | $72M | $50M | 0.5x | 7.6x | ||
| Entertainment Network (India) Ltd is a radio broadcasting company. It operates FM radio broadcasting stations in various Indian cities under the brand names Mirchi, Mirchi Love, and Kool FM. The company's principal revenue stream is advertising revenue which is generated through the sale of airtime in its FM radio broadcasting stations, activations, concerts, and monetization of the company's digital and other media properties. It is also engaged in the business of licensing music audio content and hosting and streaming such music audio content in different languages through applications dedicated to online music streaming under the name Gaana. The firm operates in a single segment which is Media and Entertainment, and derives its key revenue from the Indian market. | $1 | -30% | $54M | $42M | 0.7x | 5.9x | ||
| Median | $1 | -30% | $136M | $113M | 1.0x | 5.1x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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