FM radio industry seeks 5-yr license extension

NEW DELHI: The private FM Radio industry has reached out to the government for an urgent rescue policy under which the license period would be extended by five years to a total 15 year. This, the industry said in a statement issued on Wednesday, was essential to make the business viable and make a success of the proposed Phase-III FM Radio Broadcasting Policy. So far, promoters have funded a One Time Entry Fee (OTEF), made capital expenditure and suffered accumulated losses to the tune of over Rs 2,400 crore. Still, there has been no return on capital. The situation was critical now as only six »»»