The music arm of the Rs 6,400-crore RPG Enterprises-Saregama India, is in talks with 15 FM (frequency modulated) broadcasters to provide software contents to them in six languages namely Tamil, Telegu, Hindi, Punjabi, Bengali and English.
The RPG group company, which is ready to take splash in the FM software business by exploiting its “richest” collection of Indian music, has kept the FM business as a separate identity under the stewardship of S Guru Dutt, former CEO of Vijay TV.
The company is ready with the required infrastructure for FM software business. Only problem is that the government is taking time to clear FM licences. So far it has approved 37, out of 107 applications.
The company, however, would restrain its activities in content developments only and has no plans to enter into broadcasting.
Saregama India, which posted a total income of Rs 128.95 crore from Rs 95.33 crore in the first three quarters of the current financial year, aims to generate business of at least Rs 5 crore in the first full year of operations of providing and supplying FM software.