NEW DELHI: The Union Cabinet on Thursday will consider removing of the five year cap on change of ownership pattern in FM radio policy. If approved, the policy could smoothen demerger of the radio business.
At present, the policy does not allow change in ownership pattern through transfer of shares of the major shareholders to any new shareholders without the written permission of the I&B ministry.
According to the "expansion policy of private FM radio", permission cannot be granted before a period of five years from the date of operationalisation and is subject to the condition that the new shareholders conform to all the prescribed eligibility criteria.
Radio is one of the fastest growing medium with over 187 radio channels in 91 cities. According to estimates, it reaches 85% of the Indian audience, providing cost effective entertainment for people on the go.
At present, the policy does not allow change in ownership pattern through transfer of shares of the major shareholders to any new shareholders without the written permission of the I&B ministry.
According to the "expansion policy of private FM radio", permission cannot be granted before a period of five years from the date of operationalisation and is subject to the condition that the new shareholders conform to all the prescribed eligibility criteria.
Radio is one of the fastest growing medium with over 187 radio channels in 91 cities. According to estimates, it reaches 85% of the Indian audience, providing cost effective entertainment for people on the go.
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