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The response to the e-auction of the second batch of FM Phase III declined considerably, as only three cities received percentage increment for the next round.
North-eastern cities such as Agartala, Aizawl and Itanagar saw positive response on Day 3, witnessing 5% increment for the next round.
After Jaipur, Red FM has fortified its presence in the Rajasthan market with the launch of a new radio station in Jodhpur.
HT Media’s net profit fell 0.8% in the quarter ended 30 September as EBITDA growth was offset by higher amortisation and interest costs for new radio stations.
Even on the second day of the e-auction of FM radio frequencies, bidders’ response continued to be lukewarm.
The MIB has announced South Asia FM, a group company of Sun TV Network, as a successful bidder in the first batch of e-auction of private FM radio Phase III channels.
MIB revokes licence of Positiv Radio to establish, maintain and operate private FM radio broadcasting channels in Agartala and Itanagar.