The reserve price for radio channels in FM Phase III expansion will be decided on the basis of amount bid in Phase II auction, the Information and Broadcasting ministry said today."The reserve price for new channels in existing FM Phase II cities shall be the highest bid price received for that city in Phase II. In cities which are being taken up afresh, the reserve price shall be the highest bid price received during FM Phase II for that category of cities in that region," I&B minister Manish Tewari said here.- The Economic Times 18/12
