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Radio Mirchi gets MIB’s nod to acquire Oye FM’s non-metro stations

With this, Radio Mirchi will now spread its presence to Amrtisar, Jodhpur, Patiala, and Shimla

BestMediaInfo Bureau | Mumbai | July 23, 2015

mirchi-oye

In major fillip for Entertainment Networks India Ltd (ENIL), which owns Radio Mirchi, the Ministry of Information and Broadcasting (MIB) has given its nod to the acquisition four non-metros stations of Oye FM, owned by the TV Today Network (TVTN). The four non-metro cities are Amritsar, Patiala, Jodhpur, and Shimla, where Radio Mirchi didn’t have any presence earlier.

Prashant Panday, CEO and MD, Radio Mirchi, has confirmed the development to BestMediaInfo.com.

The approval is subject to fulfilment of conditions specified by the MIB, execution of relevant documents with TV Today Network, and completion of all other relevant formalities.

However, the Ministry hasn’t approved the acquisition of Oye FM’s stations in Delhi, Mumbai and Kolkata as Radio Mirchi already has a presence in these metros.

Earlier in February 2015, Radio Mirchi had struck a deal with Oye FM to acquire seven radio stations, but at that time the MIB had denied its approval on grounds that the proposed sale by TVTN and proposed purchase by ENIL was not in conformity with the FM Radio Guidelines.

This led to TVTN filing a writ petition in Delhi High Court in May 2015, challenging MIB’s decision.

ENIL and TVTN are expected to fight for the three metro cities too, as according to policy ruling, a radio network can have more than one frequency in Phase II stations.

Info@bestmediainfo.com

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