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The National Company Law Tribunal (NCLT), Division Bench II, Chennai, has approved the Scheme of amalgamation of Udaya FM Private Limited with Kal Radio Limited. The approval, granted under Sections 230 and 232 of the Companies Act, 2013, was issued on March 21, 2025, and communicated to the Company on April 1, 2025.    

The amalgamation was approved to create synergies between the FM radio broadcasting businesses of the two companies. This includes pooling financial, managerial, technical, distribution, and marketing resources, which is expected to reduce costs, improve operational efficiency, and enhance competitiveness. Sun TV Network's Kal Radio Limited had filed an affidavit of service before the Registry of NCLT on 21.10.2024.  

The NCLT order also addresses the transfer of assets and liabilities, ensuring that all properties, rights, and powers of Udaya FM Private Limited will be transferred to Kal Radio Limited.    

Under the terms of the approved scheme, Kal Radio Limited, the Transferee Company and a subsidiary of Sun TV Network Limited, will issue equity shares to the shareholders of Udaya FM Private Limited. Specifically, 41,965 fully paid-up equity shares of INR 10 each in Kal Radio Limited will be allotted for every 10,000 equity shares held in Udaya FM Private Limited.    

The amalgamation will be accounted for in accordance with Indian Accounting Standard 103 (Business Combinations).  Employees of Udaya FM Private Limited will be transferred to Kal Radio Limited without any interruption in service, maintaining their current terms and conditions.  Udaya FM Private Limited will be dissolved without winding up as part of the amalgamation.    

The tribunal observed that, "After analyzing the Scheme in detail, this Tribunal is of the considered view that the scheme as contemplated amongst the petitioner company seems to be prima facie beneficial to the Company and will not be in any way detrimental to the interest of the shareholders or creditors of the Company.  In view of the absence of any other objections having been placed on record before this Tribunal and since all the requisite statutory compliances have been fulfilled, this Tribunal sanctions the Scheme of Amalgamation."   

The certified copy of the NCLT order is awaited and will be delivered to the Registrar of Companies for registration within thirty days of receipt. 

Sun TV Network’s Kal Radio gets NCLT approval for Udaya FM amalgamation

The TV Today Network in its board meeting on January 9 received approval from its Board of Directors to shut its radio business. The network comprises of three FM radio stations in Mumbai, Delhi and Kolkata under the frequency 104.8 FM. 

In its regulatory filing, TV Today Network informed the exchanges that the turnover of Radio Business in FY 2023-24 was Rs. 16.18 Crores which is 1.70% of total turnover of T.V. Today Network Limited for the said year. The net worth contributed from Radio Business is reported to be loss of Rs. 19.53 Crores for the FY 2023-24.

<strong>Read More:</strong> <a href="https://www.storyboard18.com/how-it-works/radio-industry-urges-trai-to-adopt-drm-only-technology-for-digital-broadcasting-52737.htm">Radio industry urges TRAI to adopt DRM-only technology for digital broadcasting</a> 

TV Today Network cited losses and state of radio industry in the country behind the reason of shutting down its radio business. "Given the state of industry, its dynamics and evolution of FM Radio Broadcasting business, the Board of Directors considered it in better interest of the Company to close this business instead of continuing the same." 

<strong>Read More:</strong> <a href="https://www.storyboard18.com/how-it-works/radio-industry-urges-for-subsidies-phased-manner-transition-to-digital-radio-adoption-52744.htm">Radio industry urges for subsidies, phased-manner transition to digital radio adoption</a> 

Breaking: TV Today Network to shut its radio business in next six months

The Telecom Regulatory Authority of India (TRAI) will meet multiple stakeholders on January 8 for an Open House Discussion on Consultation Paper (CP) Formulating a Digital Radio Broadcast Policy for private Radio broadcasters. TRAI had released the CP on September 30 last year. 

TRAI received 43 comments and 13 counter comments. In order to develop an eco-system, which can facilitate deployment of digital radio broadcasting, TRAI suo-motu gave its recommendations on “Issues related to Digital Radio Broadcasting in India” on 1st February 2018. 

Multiple stakeholders including Association of Radio Operators for India(AROI), Federation of Indian Chambers of Commerce & Industry(FICCI), India Cellular & Electronics Association(ICEA), The National Chamber of the Radio and Television Industry(CIRT), Mercedes-Benz India Private Limited among others have shared their comments. 

Ministry of Information and Broadcasting vide its reference dated 23rd April 2024 has sought recommendations of TRAI on formulating a digital radio broadcast policy for private Radio broadcasters. MIB has mentioned that in order to cater to technology shift, some existing provisions under FM Phase-III policy may require a relook.  MIB has also highlighted certain issues that may be considered while formulating recommendations for digital radio broadcast policy.

TRAI had also emphasized that the government should come out with a detailed policy framework for Digital Radio Broadcasting in India, which should provide detailed roadmap for rollout of digital radio broadcasting services in a time bound manner.

At present, analogue terrestrial radio broadcast in India is carried out in Medium Wave (MW) (526–1606 KHz), Short Wave (SW) (6–22 MHz), and VHF-II (88–108 MHz) spectrum bands. VHF-II band is popularly known as FM band due to deployment of Frequency Modulation (FM) technology in this band. All India Radio (AIR) - the public service broadcaster - provides radio broadcasting services in MW, SW and FM bands. Private sector radio broadcasters are licensed to transmit programs in FM frequency band (88-108 MHz) only.

Digital Radio broadcasting will provide a number of advantages over analogue radio broadcasting. The major advantage of Digital Radio broadcasting is capability of broadcasting three to four channels on a single frequency carrier, while ensuring excellent quality of audio for all the channels, whereas in the analogue mode only one channel broadcasting is possible on a frequency carrier. In a competitive environment, digital radio broadcasting can provide exciting new opportunities to radio broadcasters as well as a host of value-added-services to the listeners.

All India Radio (AIR) has initiated digitization of its analogue MW and SW radio broadcast network and replaced its existing 38 analogue transmitters with digital transmitters. AIR has conducted trials for digital radio technologies in FM band also. However, any initiative in digitization of FM band by private FM radio broadcasters is still awaited.

TRAI to hold OHD on 8 Jan for formulating Digital Radio Broadcast Policy

In a conference hosted by the India Cellular and Electronics Association (ICEA), in collaboration with the Association of Radio Operators for India (AROI), MIB Secretary Sanjay Jaju emphasized on "light-touch" regulation for the Radio industry. The government plans to roll out digital FM radio broadcasting in 13 major cities, marking a key step toward modernizing the sector.

Jaju highlighted underscored the role of localized content in strengthening radio’s appeal and fostering innovation. In September, a consultation paper was released to gather input from stakeholders, including broadcasters, equipment manufacturers, and digital receiver producers, to develop a comprehensive policy for private digital radio.

Jaju said, "Light touch regulations will enable innovative content creation and deeper listener engagement, empowering India's creators. Radio derives its strength from localised content choice embracing diverse community interests and cultural preferences."

Industry leaders stressed the importance of adopting proven, non-disruptive digital technologies to enhance efficiency and unlock opportunities in India’s culturally diverse market. The adoption of technologies like HD Radio is seen as pivotal in positioning India as a global hub for digitally-enabled device manufacturing, boosting exports to markets like the Americas. This transition aligns with India's vision of leveraging the creator economy to enhance its global influence.

Jaju also spoke about government’s aim to optimize spectrum use and address revenue challenges for private radio operators, MIB has increased base advertisement rates by 40% and is working on new growth opportunities.

MIB Secretary Sanjay Jaju also informed that the Frequency Planning Committee has identified channels for this rollout, with a focus on a smooth transition to digital radio. The shift will involve upgrades in transmission infrastructure and allow for both analogue and digital broadcasting through "simulcast" technology. 

Public consultations on a digital radio policy are ongoing, and FM spectrum auctions in 254 new towns and semi-urban areas have been approved. Over 20 companies have expressed interest in these auctions, which now feature simplified, revenue-linked licensing terms.


'Light regulations' for Radio industry will drive innovative content: Govt

The Government of India has approved a one-time special relaxation for automatic provisional empanelment for the successful bidders of Batch-III e-auction under the FM Policy (Phase-III). The Ministry of Information and Broadcasting is also considering extending the deadline for applications and giving more time for the e-auctions for the allotment of 730 channels across 234 uncovered cities under the third batch of FM Phase-III radio channels.

According to the government, this relaxation will be effective immediately from the date of operationalisation of their radio channels, providing provisional empanelment with the Central Bureau of Communications (CBC) for a period of six months, or until they become eligible for applying for empanelment with CBC under the existing 'Policy Guidelines for Empanelment of Private FM Radio Stations.'

During the provisional empanelment period, the base rate applicable to Private FM Radio stations for which no IRS (Indian Readership Survey) data is available will be applied.

This measure will provide immediate revenue benefits to radio operators in new cities, encouraging them to begin operations promptly. The step is expected to facilitate the faster rollout of Private FM Radio services in these cities, promoting better access to radio broadcasting services across the country.

This initiative is part of the Government's continuous efforts to improve the Ease of Doing Business in India and provide operational support to radio operators, thereby ensuring smoother business operations and a more conducive environment for growth in the broadcasting service.

The Ministry of Information and Broadcasting is also considering extending the deadline for applications and giving more time for the e-auctions for the allotment of 730 channels across 234 uncovered cities under the third batch of FM Phase-III radio channels.

The Notice Inviting Applications released last month by the ministry fixed November 15 as the deadline for submissions. 

However, many radio operators urged the government to extend the deadline to January 15, 2025, citing the time required for review and assessing the market of each town under auction.

Some operators also said that postponing the date of the actual auction to April would enable more budget allocation for auctions.

FM Radio phase III: Govt approves one-time relaxation for provisional empanelment

The Ministry of Information and Broadcasting (MIB) has extended the deadline for applications for the allotment of 730 FM radio channels under the third batch of Phase-III auctions. The new deadline for submission of applications is now December 9, 2024, providing radio operators with additional time to prepare their bids.

The extension follows requests from industry stakeholders, who had initially raised concerns about the tight timeframe set by the ministry. The original deadline for submitting applications was November 15, 2024. Several radio operators had urged the government to push the deadline to January 15, 2025, citing the need for additional time to assess market conditions and review the auction process in each of the 234 cities covered by this batch.

The ministry’s revised schedule also outlines key upcoming dates. The publication of ownership details for all applicants will take place on December 16, 2024. Bidders will need to submit their ownership compliance certificates by December 23, 2024. The pre-qualification process for bidders will occur on January 10, 2025, or as soon as all necessary formalities are completed, whichever is later.

Mock auctions are scheduled to take place 4-5 days after the pre-qualification, with the actual e-auctions set to begin just four days following the mock round.

Industry representatives had also suggested that delaying the actual auction until April 2025 would allow operators more time for budget planning and allocation, ensuring smoother participation in the process.

This extended timeline reflects the ministry’s efforts to accommodate the needs of potential bidders and ensure a more efficient and transparent auction process.

Deadline for FM Phase-III radio channel auctions extended to December 9

The Ministry of Information and Broadcasting has invited applications for e-auctions to allocate 730 channels across 234 uncovered cities under the third batch of FM Phase-III radio channels.

Earlier in August, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal to conduct the third batch of e-auctions for 730 channels in 234 new cities with an estimated reserve price of Rs 784.87 crore, under the Private FM Radio Phase III policy.

The ministry has now invited applications from prospective bidders who meet the eligibility criteria to submit their applications for auction participation. The deadline for application submission is November 18, 2024.

The auction will begin four days after the mock auction, and participants are required to make the first 25% payment within five calendar days, with the remaining balance due within 15 calendar days of the auction's conclusion and notification of successful bidders by the government.

Complete details regarding the Annual Fee are provided in Clause 6 of the FM Phase-III Policy Guidelines dated July 25, 2011, as amended from time to time.

Permission holders for a new FM radio channel in uncovered cities under the Batch-III FM Phase-III auction must pay an annual fee of 4% of the channel’s gross revenue for the financial year, excluding Goods and Services Tax (GST).

MIB to conduct E-auctions for FM Radio Channels, reserve price set at Rs 784.87 Crore

The union cabinet, led by Prime Minister Narendra Modi, on Wednesday has approved the expansion of private FM radio services to 234 new cities across India. This move is part of the 3rd batch of ascending e-auctions under the Private FM Radio Phase III Policy, offering 730 new channels. 

The estimated reserve price for these channels is set FM radio at Rs 784.87 crore. In addition, the Cabinet has approved a new Annual License Fee (ALF) for these FM channels, which will be 4% of their Gross Revenue, excluding Goods and Services Tax (GST).

This fee structure will apply to the FM channels introduced in these 234 new cities.

This expansion is aimed at meeting the growing demand for FM radio in areas that currently do not have access to private FM broadcasting. It will bring local content, often in the regional languages of these areas, to new listeners.

The rollout is also expected to create new job opportunities and promote local dialects and culture, supporting the government's 'vocal for local' initiative.

Many of the cities and towns included in this plan are located in Aspirational districts and areas affected by Left Wing Extremism (LWE). The introduction of private FM radio in these regions is expected to strengthen government outreach and improve communication.


Union Cabinet approves e-auction proposal, expansion of private FM radio in 234 cities

Ministry of Information & Broadcasting has approved new rates for CBC (Central Bureau of Communication) advertisements to be issued for private FM radio stations based on the recommendations of the Rate Structure Committee set up by it. 

“The new rates approved by the Ministry in the month of September,2023 includes a 43 per cent increase in the base rate taking into account the rising costs dynamics for the period of December 2015 to March 2023.,” said a statement released by the ministry.

With this increase, the gross base rate for FM radio advertisement will increase from Rs 52 to Rs 74 per ten seconds. 

“This adjustment is intended to maintain parity with current market rates. The increase in Gross base Rate will also be beneficial for more than 400 Community Radio Stations that are currently operational in the country,” the statement said.

Further building on the base rate, the Ministry has also decided to continue with the existing pricing formula for calculating city wise rates. The pricing formula takes into various factors like city population and listenership data from the India Readership Survey (IRS) of 2019. 

Based on this formula along with the enhanced base rate almost all private FM radio stations will benefit from the new recommended rates at varying percentages depending largely on their listenership giving value for both FM stations and the clients of CBC.

Based on this formula the rates for 106 stations will increase by 100 percent, a 50percent-100 percent increase for 81 stations, and a less than 50 percent increase for 65 stations for which listenership data is available.

The Rate Structure Committee for Private FM Radio Stations was set up by the Ministry last year to evaluate and recommend new rates which were last revised in 2015. The Committee submitted its recommendations after holdings several rounds of meetings with industry experts and stakeholders in addition to taking inputs from bodies like Association of Radio Operators of India.

RADIO