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Tasting success, DD Freedish sticks to high reserve price of Rs 8 cr in new auction
MUMBAI: Fresh from its haul of Rs 24 crore from the 34th e-auction, public broadcaster Doordarshan has decided to stick to the high reserve price of Rs 8 crore for selling vacant slots to private broadcasters on its free direct-to-home (DTH) platform Freedish.
The 35th e-auction will be held on 25 May. The slots are only for non-news channels and the reserve price is Rs 8 crore per slot.
As reported first by TelevisionPost.com, Sony Wah, Zee Anmol Cinema and 9X Jalwa had renewed slots at reserve price of Rs 8 crore in the recently concluded 34th e-auction. This was the highest price ever paid by a broadcaster to obtain a slot on Freedish.
All television channels interested in participating in the new auction will have to submit uplinking and downlinking permissions from the Ministry of Information and Broadcasting (MIB) along with the application, in addition to a participation fee of Rs 2.80 crore. The participants will have to give a demand draft in favour of PB (BCI) Doordarshan Commercial Service, New Delhi.
Successful channels will have to arrange their own IRD box in advance to place their channel on Freedish platform on time.
The participation fee drafts will be returned to the unsuccessful bidders within three weeks after the declaration of winning bids. The participation fee of the successful bidders will be adjusted in the third and final instalment of carriage fee.
If the successful bidder fails to place their channel on its allocated slot even after one month from the date of allotment, their allocation shall be treated as cancelled and the participation fee will be forfeited.
Every successful bidder will have to sign an agreement and return it to DD in two copies within 15 days of issue of the letter of allotment.
Successful bidders will have to pay 50% of the total bid amount in two instalments of 25% each plus service tax. The first instalment will have to be paid within one month from the date of placement of channel while the second instalment will have to be paid within four months from the date of placement of channel.
The remaining amount will have to be paid within seven months from the date of placement of channel after adjusting the participation fee and previous instalments and applicable Service Tax.
If any of the above instalments is not paid within the scheduled instalment dates, a penal interest @ 14.5% per annum will be charged from the due date of payment. The penal interest will be charged for the entire month for a default of 30 days or part thereof.
If the instalment along with the penal interest is not paid within 30 days from its scheduled due date, a 30 days’ notice will be issued to the defaulter for discontinuation of channel.
In the event of the channel not paying the instalment with the accrued penal interest for two months within the notice period, the participation fee along with any instalment already deposited by the broadcaster, will be forfeited and the channel will be discontinued from the Freedish platform after the expiry of the notice period.