Shares of radio operators in demand

Shares of five radio operators rose by 0.59% to 7.48% at 14:03 IST on BSE on hopes of successful FM radio auctions.

Meanwhile, the S&P BSE Sensex was up 52.75 points, or 0.19% at 28,498.87.

B.A.G Films & Media (up 7.48%), H T Media (up 5.20%), Entertainment Network (India) (up 2%), TV Today Network (up 1.54%) and D B Corp (up 0.59%), edged higher.

Sun TV Network (down 0.02%) edged lower.

There are 21 pre-qualified bidders for upcoming e-auction of private FM radio Phase-III channels, which might begin towards the end of July 2015.

According to reports, money deposited for bids indicates that Entertainment Network India (ENIL) can bid in all 69 towns and HT Media in top 22 towns.

In Phase III of FM licensing, smaller towns and cities will be opened up for FM radio. The roll out of the first batch of FM Radio Phase III auction will provide more channels to listeners with richer content in 69 existing cities.

Sun TV Network's application to participate in the FM radio auctions was reportedly rejected by an inter-ministerial panel. It may be recalled that last month the Ministry of Home Affairs (MHA) had denied security clearance to the Sun TV Network's 33 TV channels, citing concerns over investigations by various government agencies against its promoters Kalanidhi and Dayanidhi Maran.

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