NDTV today bought a minority stake in India Today group's radio venture Radio Today Broadcasting through a joint venture with Hyderabad-based Value Labs and Malaysia's Astro for an unspecified amount.While Astro is believed to have picked up about 20% stake, Value Labs would be the majority stakeholder in Radio Today Broadcasting that airs Red FM in Delhi, Mumbai and Kolkata.NDTV has purchased the stake through its fully-owned subsidiary NDTV News.Arjun Rao, founder-promoter and CEO of Value Labs, said: "We are very excited with the opportunity to expand into the radio sector in India, and we hope to build upon our global experience in the multimedia space. The possibilities that exist in relation to creating an interactive eco-system across radio, television, internet and mobile is something we're looking forward to."Narayan Rao, director of NDTV, said the company was planning to enter the radio segment. "We're very excited about it, especially with the option of migrating to phase II without the old fixed licence regime. We see a lot of cross-media synergies by entering the space."
