Radio Mirchi has discontinued its Panaji FM station, the network said in a filing to the Bombay Stock Exchange (BSE). Entertainment Network India Limited (ENIL) in a statement to the BSE said, â€śThis is to state the company has discontinued the operation of FM radio station at Panaji, Goa. Kindly place the same on your record.â€ť
Prashant Panday, CEO, ENIL, said, â€śWe found our Goa operations to be unviable financially. With high migration fees (renewal fees), we decided against renewal of the licence. The original Phase-2 licence lapsed on May 21 night and since then, weâ€™ve been off air.â€ť
To date ENIL has shut only one station, which is the Goa one. â€śThere are no other plans to shut down any station,â€ť said Panday.
ENIL currently has 49 operating stations in 39 cities. In nine cities, they have two channels operating. In Hyderabad, they have three channels operating.
Asked whether FM stations are bleeding to an extent that they need to be shut down, Panday said, â€śNo. Almost all radio companies are reporting healthy profits. But individual stations do make losses. If there is a path to revival, or a strategic reason to bear the loss, then companies continue to run operations in these towns. For us, there was no such reason.â€ť
Goa now has two radio stations left.