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MIB releases details of RED FM's successful wins in first round of Phase III

MIB releases details of RED FM's successful wins in first round of Phase III

Author | exchange4media News Service | Friday, Oct 28,2016 8:02 AM

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MIB releases details of RED FM's successful wins in first round of Phase III

The Ministry of Information & Broadcasting (MIB) has released details of frequencies won by South Asia FM (which runs RED FM and Suryan FM) in the first round of Phase III auctions held last year. In July last year, the Madras High Court had allowed the operator to participate in the auctions but had instructed MIB to keep the results sealed. This was due to the fact that there were ongoing cases against Sun TV promoters including Director Kalanithi Maran. Sun TV is the parent company of South Asia FM. Due to this, South Asia FM had been denied security clearance by the Home Ministry; a necessity for a company to participate in the auctions.

http://www.exchange4media.com/radio/how-does-red-fm%E2%80%99s-entry-affect-phase-iii-auctions-_60986.html

However, earlier this year, the Supreme Court rejected an appeal filed by the Centre against allowing Red FM to continue broadcasting. The High Court also directed the government to allow the operator to migrate to Phase III and to release results of their auction.

http://www.exchange4media.com/radio/red-fm-considers-legal-action-after-phase-iii-snub_60844.html

As per information released by the MIB, the total bid amount for RED FM was Rs 475,960,378 for Surat, Chandigarh, Patna, Amritsar and Jammu. In June, RED FM launched its second radio station in Mumbai focusing on retro music called REDTRO 106.Chaar. Apart from the aforementioned stations, it has also acquired three more stations, namely, Srinagar, Jodhpur and Chennai. No information about these stations has yet been released.

http://www.exchange4media.com/radio/red-fm-network-launches-retro-music-station-radio-redtro106.chaar-in-mumbai_64972.html

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