FM phase III auctions; Sun Group leads

In an extensive second round of phase III FM auctions, 66 radio channels found buyers for a total value of Rs 200 crore in 48 towns during the auctions held by I&B Ministry. However, 200 channels remained unsold by the end of the second round of auctions. The auctions consisted of 266 channels in 92 cities across India.

The highest bid in the phase III auctions was made by the Sun Group entity, Kal Radio for Rs 23.4 crore for a slot in Hyderabad. While the second highest bid was made in Dehradun by South Asia FM Limited for Rs 15.61 crore. South Asia FM Limited is also linked to Sun Group owned by Kalanithi Maran.

Although small towns like Leh, Bhaderwah, Poonch, Kathua and Kargil in Jammu and Kashmir among 13 others got bids of a meagre value of Rs 5 lakh each.

Among the noteable companies making bids, Entertainment Network (I) Limited bagged slots in Mysuru (Rs 3.21 crore), Durg-Bhilainagar (Rs 1.7 crore), Asansol (Rs 1.94 crore), Amravati (Rs 3.5 crore) and other cities; Malayala Manorama Co. Ltd. and Mathrubhumi Printing and Publishing Co. Ltd. both bought FM slots in Allappuzha (Allepey) for Rs 7.02 crore each. While, Kal Radio also bought FM slots in cities like Vellore, Nellore among others.