Unresolved Supreme Court copyright dispute
Investor questioned maximum potential liability from decade-old copyright case; management deflected by asserting case strength without quantifying exposure.
RADIOCITY / bear-case history
Track the concerns that keep returning.
Music Broadcast · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
Delays in government fee relief
Analyst pressed on status of fee hike expectations; management admitted no indication on timing despite continuous engagement.
Market cap below book value / strategic alternatives not discussed
Two separate investors raised concerns about valuation gap and strategic alternatives (buyback, Jagran merger); management response was identical 'no comments right now' on both.
Radio industry structural decline
Revenue degrowth vs prior year acknowledged; industry volumes down 4%; management characterized outlook as 'cautiously optimistic' without specific targets.