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Hike likely in FDI in FM radios
30 July 2010: The Union Government is all set to hike the FDI limit in the FM radio sector from the current 20 to 26 per cent.
The hike in foreign investments is expected to help radio firms get foreign investments for expanding in the FM-III. According to sources, now the information and broadcasting (I&B) ministry will include it in the FM-III policy that it is currently finalising. The policy will be finalised after it gets the approval from the government.
Among other new initiatives planned for FM-III, the government is also expected to allow the radio companies to own multiple FM stations within a city. Currently, the policy does not allow any FM operator to operate more than one radio station per city. As already reported by FE, the FM-III policy is also expected to follow the ‘clock auctions’ used to select winners of 3G and BWA spectrum recently.
Source: Financial Express