7 firms get FM licences for B'lore

7 firms get FM licences for B'lore
Radio Indigo, Adlabs among new players
Business Standard

In the near future, Bangaloreans will get to tune into a lot more music and of course much much more of the never-ending chatter of radio jockeys. Even as Bangalore roads get clogged with endless traffic jams, one will at least be able to tune into a variety of FM stations as seven more stations will try to grab your attention.

Radio Indigo (of Rajeev Chandrasekhar), Radio Mirchi, Radio Mid-Day, Adlabs, HT Music, Kal Radio are among the firms which have made successful bids to operate these services in the city.

Radio Mirchi has been a tip bidder, bidding Rs 21.6 crore for the licence. Radio Indigo had bid Rs 9.2 crore. Radio City, from Star TV, is already a player in the city along with All India Radio’s FM channel.

A spokesperson for Radio Indigo said, in addition to Bangalore, they will look at Andhra Pradesh, Tamil Nadu, Kerala and some Western Indian markets leaving out Mumbai circle to start FM services.

The company presently has an equity base of Rs 10.3 crore and is expected to invest up to Rs 140 crore depending on how many licences they will get. He said, they will attempt to build on the brand equity created when they were on the WorldSpace network and also on their four years of experience.

“Bangalore will the flagship centre for Radio Indigo as Chandrasekhar will expand his presence in the media industry. All media investments will be routed through Jupiter Capital, an investment firm floated by Chandrasekhar after his exit from the telecom business,” the spokesperson noted.