FM Radio II: Govt. to earn Rs 870 million from western region

MUMBAI: Private operators continue to go gaga over FM radio as the bid for 21 cities across the western zone took place today.

Of the 116 bids received for 68 frequencies, 62 prima facie qualified. The government would earn a revenue of Rs 871.5 million as one time entry fee (OTEF) from today’s bidding.

Radio City has bagged seven more licenses in Maharashtra and Gujarat in the cities of Ahmednagar, Akola, Nanded, Jalgaon, Sangli, Sholapur and Vadodara.

BAG Infotainment Pvt. Ltd, a subsidiary of BAG Films Ltd has bagged the FM radio rights for Ahmednagar, Jalgaon, Dhule and Jabalpur. With these cities the company now has a total of 10 cities to place FM radio stations.

Radio City CEO Apurva Purohit said, "As part of our business strategy, we have strengthened our network in the Western region. The bidding was done strategically keeping in mind the long-term sustainability and revenue generation potential in these markets. We will now have a national presence in key metros and mini metros, while the western region has become a key zone for us."

BAG Films managing director Anurradha Prasad said, "We are very happy to have bagged 10 cities till now. Through our continuous expansion mode we promise to provide non-stop entertainment to our listeners making a mark in the radio industry."

Indore received the highest bid amount at Rs 52.1 million and contributed the maximum OTEF at Rs 142.5 million for three frequencies whereas Vadodra mopped up Rs 136.3 million for four channels.

With today's bids, 227 frequencies have been allotted. The bidding process will conclude when the remaining 64 frequencies in 19 B, C and D category cities in the southern region come up on 3 February.

Also read:

FM radio II: Adlabs sweeps stations in East India

FM radio Round II: Mirchi, Adlabs, Sun win bids

FM radio II: Rs 5 billion+ licence fee in first round

FM radio: 29 companies bid for A, A+ cities

Government clears 85 companies for FM radio bid

FM phase II: govt. may collect Rs 1.35 billion in licence fee

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