Radio Mirchi marches into south India
Radio Mirchi marched into the southern states of Karnataka, Tamil Nadu, Andhra Pradesh and Kerala on Friday as the curtain came down on the second phase of bidding for private FM radio.
With the final round of bidding, government has sold about 280 radio stations across 91 cities, assuring it of revenues of around Rs 1,100 crore.
The second phase, which saw aggressive bidding by most of the players, gathered much interest after the government laid out a revenue share regime for it against the license fee structure of the first phase which proved to be disastrous.
Spread over five rounds, Phase II saw not only existing players bidding for new cities, but also new entrants like Adlabs of Anil Ambani and HT Music & Entertainment win licenses.
A new entrant, Century Communications bagged six cities — Mangalore, Gulbarga, Rajamundry, Tirunelvelli, Tuticorin and Warangal — for Rs 3.56 crore.