Having got a last-minute permission from the court to take part in the FM Radio Phase 3 e-auction, Digital Radio Broadcasting Ltd, a company associated with the Sun Group, has bagged three radio channels — one each in Mumbai, Jodhpur and Srinagar — in the recently concluded auction process.
Digital Radio Broadcasting Ltd, which runs Red FM in Delhi and Mumbai, was initially not permitted by the Information & Broadcasting Ministry to take part in the auction on the grounds that it had been denied security clearance by the Ministry of Home Affairs (MHA) due to its association with Sun TV.
It was only after a Delhi High Court order that the company could participate in the auction process that witnessed bids worth Rs 1,156.9 crore coming in for 97 channels in 56 cities after 125 rounds of bidding.
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As per the finals results declared by the Information and Broadcasting ministry Wednesday, the lone FM channel in Delhi has been bagged by HT Media Ltd with a successful bid of Rs 169.16 crore. This is the highest bid received for any channel, which will operate at a frequency of 107.2 MHz, in this auction.
The two channels up for grabs in Mumbai were bagged by HT Media and Digital Radio Broadcasting (Mumbai) Broadcasting Ltd. Both channels have been sold at a price of Rs 122.81 crore.
While HT Media has got the 91.9 MHz frequency, Digital Radio Broadcasting (Mumbai) Broadcasting Ltd has got 106.4 MHz.
The lone channel on offer in Bengaluru has been bagged by Entertainment Network India Limited at a bid price of over Rs 109 crore. The two radio channels in Pune have been bagged by Reliance Broadcast Network Limited and Entertainment Network India Limited each at a price of over Rs 42 crore.
The three channels in Hyderabad received bids of Rs 18 crore each — two from Entertainment Network of India Limited and one from HT Media Limited. Entertainment Network India Limited also emerged the highest bidder for a channel in Jaipur with a successful bid of Rs 28.34 crore.