Ministry of Information and Broadcasting issues IM for conduct of e-auction of First Batch of Private FM Radio Phase III Channels

Ministry of Information and Broadcasting, Government of India issued the Information Memorandum (IM) for e-auction of 135 channels of Private FM Radio in 69 existing cities of Phase II in the first batch. It was issued in continuation of the Union Cabinet's approval on 16.01.2015 for conduct of FM Phase-Ill auctions for these channels and migration (renewal) of Private FM Radio licenses from Phase-II to Phase-III.

Issuance of the Information Memorandum is part of the process of FM Phase III Policy for expansion of FM Radio Broadcasting through private agencies, with the objectives of attracting the agencies to supplement and complement the efforts of All India Radio by operationalizing radio stations that provide programmes with local content and relevance, improving the quality of fidelity in reception and generation, encouraging local talent and generating employment.

The Memorandum comprises the rules and timetable applicable to the auction and is aimed at informing the prospective bidders about the steps they needed to take in order to pre-qualify and take part in the forthcoming auction.

The Memorandum is for information purpose only and has no binding force. Broadly, it outlines the Government's expectations in relation to the proposed auction. All information contained in it is subject to updating, modification and amendment and does not purport to be complete.

The Ministry has issued it to facilitate and encourage potential new entrants to the Indian Broadcasting sector, as well as existing operators, to take an informed decision while participating in the auction.

The Ministry has clarified that the Memorandum is not intended to form any part of the basis of any investment. Also, neither does it constitute an offer or invitation to participate in the auctions, nor does it constitute the basis of any contract which might be concluded in relation to the auction. It has been put in public domain to merely supplement and update Phase III Policy guidelines and to acquaint the prospective bidders with the design of ascending e-auction.

The Ministry has also informed that the recipients of the Memorandum intending to participate in the forthcoming auctions should note that Ministry of Information & Broadcasting would separately issue a Notice Inviting Applications (NIA) for participation in the Auction which would be definitive and would take precedence.

Powered by Capital Market - Live News