Much-awaited Phase III auction for FM licensing by next month: I&B Minister

The Minister said he said the government was putting in place processes to make the e-auction as transparent as possible

BestMediaInfo Bureau | Delhi | September 16, 2013

Information & Broadcasting Minister Manish Tewari has said that the Phase 3 auction for FM Radio will roll out next month. Speaking at the Confederation of Indian Industry (CII) Big Picture Summit 2013 in New Delhi on Friday, September 13, 2013, he said that the government is putting in place processes to make the e-auction as transparent as possible.

Tewari said the government will provide all necessary help to the media and entertainment industry by providing infrastructure to reach the $100 billion landmark. He said the government believes in the potential of the industry and it has the capacity to unlock creative potential of the people. He also said that the Justice Mudgal Committee report to overhaul the present Cinematograph Act is expected to come by mid October this year after consultations with all stakeholders.

Commenting on the need for a stable regulatory system for the sector, Tewari said that the government believes in persuasion rather than regulations while dealing with media. Complementing the robust double-digit growth of the M&E industry in the last few years, the minister said that in the backdrop of the economic slowdown, it is a good achievement.

Touching upon the new media sector, he said it has enormous power but is unregulated. He also urged the industry to explore the potential of social media.

Welcoming the announcement, Vineet Singh Hukmani, Managing Director, Radio One, said, “The industry has waited for this for a very long time. The pricing and rollout must keep in mind the present depressed economic scenario and players must not bid blindly.”

Apurva Purohit, CEO, Radio City, commented, “We are really excited with this announcement and glad that the government is finally living up to its promise. We are set with our plans and look forward to the auction.”

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Info@BestMediaInfo.com