FM radio operators edge higher

FM radio services providers edged higher at 11:23 IST on BSE after the Ministry of Information and Broadcasting yesterday, 20 June 2016, issued the notice inviting applications for e-auction of 266 FM radio channels.

Entertainment Network (India) (up 3.89% at Rs 750), D B Corp (up 1.76% at Rs 378.10), Jagran Prakashan (up 1.52% at Rs 173.95), HT Media (up 0.96% at Rs 78.70) and TV Today Network (up 0.77% at Rs 288.30) edged higher. Sun TV Network (down 0.89% at Rs 368.40) edged lower. Next Mediaworks was unchanged at Rs 22.25.

Meanwhile, the S&P BSE Sensex was down 51.03 points or 0.19% at 26,815.89.

The Ministry of Information and Broadcasting yesterday, 20 June 2016, issued the notice inviting applications (NIA) for e-auction of 266 FM radio channels in 92 cities in the second batch of Private FM Phase III. The second batch consists of 227 channels in 69 new cities besides 39 channels in 23 existing cities. The issuance of NIA for the second batch under Private FM Phase III will further the process of expansion of FM radio broadcasting services through private agencies (Phase-III). Applications are required to be submitted by 17:00 IST on 1 August 2016. Based on the applications, the Government of India (GoI) shall pre-qualify applicants who meet the eligibility criteria for participation in the auction.

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