Radio phase-III rules may kick off M&As, see smaller players exit: Experts

Push into C&D category cities to aid growth; sector had shrunk to half its pre-pandemic market size of Rs 3,100 cr due to Covid-19 and other curbs over past two years

The new radio phase III guidelines, announced last week by the government, may pave the way for mergers and acquisitions, sector experts and radio broadcasters said. Smaller players may choose to exit the market now, as the government has removed the 15 per cent ceiling on channel holding, which was inhibiting growth.

“The radio sector had shrunk to half its pre-pandemic market size of Rs 3,100 crore due to Covid-19 and other related restrictions over the last two years,” said Ashit Kukian, chief executive officer (CEO), Music Broadcast Ltd (MBL), part of Jagran Prakashan, which runs the Radio City brand of