Sun Network, ENIL spend big in FM radio auctions

28 Feb,2017

By A Correspondent

 

With the 26-day second phase of the Phase 3 auctions for private FM radio having concluded on Monday (Feb 27),  Entertainment Network India Ltd (ENIL) Managing Director and CEO Prashant Panday said: “We are very excited with the results of the 2nd batch of auctions! Our 21 new cities give us depth in the most vibrant radio markets in the country. With this expansion, we’ll have 74 frequencies in 64 cities. We look forward to expanding more in the future. However only if the government amends the policy and makes the smaller stations viable.”

 

The Sun Network’s Kal Radio and South Asia FM spent around Rs 80 crore in the second batch of Phase 3 auctions, while Radio Mirchi spent Rs 51-odd crore. Radio Mirchi acquired 21 cites.

 

As many as 66 frequencies across 48 cities were auctioned netting the government a little over Rs 202 crore. On offer in this auction were 266 frequencies across 92 cities and towns.

 

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