Top Story

e4m_logo.png

Home >> Media - Radio >> Article

Millenium Broadcasting and Radio Mid-Day get stay on bank guarantees

30-August-2002
Font Size   16
Share
Millenium Broadcasting and Radio Mid-Day get stay on bank guarantees

Two private FM operators have obtained an ad interim stay from the Bombay High Court on invocation of their bank guarantees by the government following their failure to pay the license fee for Delhi and Chennai FM stations by the August 29 deadline.

Millenium Broadcasting and Radio Mid-Day have obtained the stay anticipating the government to encash their bank guarantees of Rs 10 crore each in case they failed to deposit the license fee in time.

Official of one of the companies hoped that the case will be referred to an arbitrator in accordance with the terms and conditions of the contract. In view of the huge license fee for Delhi and Chennai, the business would have been completely unviable, the company source said.

Officials at the two companies said they had to take the decision as the government did not relent in extending the deadline till the stations were ready for operation. This has forced us to remain a single city player and operate only in Mumbai.

The ministry of information and broadcasting had already granted the FM radio players one extension when the deadline to pay the money was pushed back from December 2001 to August 2002.

Even while the FM players are unanimous that the FM radio license fee is too high, players such as Sun TV and Times of India owned Entertainment Network Ltd have already deposited the money with the government.

Tags

Our typical marketing budget is usually 10 per cent of the topline spend

There are some forces impacting the way our business works. The IT/ITeS sector has changed tremendously. Platforms like Twitter have made everyone journalists. Smartphones have made everyone a photographer. The trend that we are seeing is one of hyperdigitalization, which is causing the lines between product and services to blur. For example, <a href=http://www.exchange4media.com/company/news/amaz...

The OOH sector is among the fastest growing, globally. Brands and marketers have realized its potential and impact and begun to craft medium-specific adverts. Self-regulation is not only necessary but also essential to growth of the sector. The industry needs to exercise a certain level of this self-restraint to prove its commitment to maintaining the best standards in advertising.

<b>Clients are looking for experiential solutions beyond radio or print: Abraham Thomas, Radio City 91.1 FM</b><br><br> From entering new markets to launching large format events, Radio City 91.1FM has been on a roll. The radio channel recently announced the launch of India’s biggest singing talent hunt-Radio City Super Singer Season 8. Earlier this year, the channel set up its own creative-cum...

Under the watchful eye of Walt Disney, Bindass undergoes brand repackaging with a fresh new show ‘Dil Buffering’ simulcast across its linear and social media platforms on September 29 and will launch...

Apart from the mandate for the first project which is the Ashiana Town in Bhiwadi, Tomorrow and InterTwined will deliver brand solutions across film, print, radio, outdoor and activation besides provi...

Despite advertising picking up after a slow Q1, regional FM players still feel that the lingering effect of GST, RERA, demonetisation will still make its impact felt during the upcoming festive quarte...