Telecom model mooted for FM radio

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The Expert Committee on FM radio is set to recommend the telecom model for
companies migrating from the existing licence-fee regime to a revenue-
sharing arrangement with the Government. Among the other recommendations,
the committee, which is slated to submit its report on Monday, is likely to
suggest 26 per cent foreign direct investment into the radio business.

Currently, foreign institutional investors can hold up to 20 per cent in
private FM radio companies. Also, the committee is likely to suggest
allowing news in private FM radio channels. So far, only All India Radio
could broadcast news and current affairs shows. The Government had set up a
10-member task force headed by Dr Amit Mitra, Secretary General, Federation
of Indian Chambers of Commerce and Industry, to suggest changes to the
existing FM radio norms.

Some of the major players which have commenced operations are Living
Media's Red FM, Times Group's Radio Mirchi, Ispat Group's Radio City and
Sun Group's Suryan.

Source:
http://sify.com/finance/fullstory.php?id=13309495