Sun FM stations face auction blackout

Bishnu15

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NEW DELHI: Exclusion of radio channels promoted by the Sun Group in the FM phase-III auction was possible though a final view will be taken by I&B minister Arun Jaitley, senior officials said.

"The home ministry's refusal to give security clearance to the companies was discussed. It is likely that we will have to exclude the companies as it is not possible to delay the FM auctions any further," a senior official said. A decision will be taken by Jaitley, who was traveling on Tuesday, soon.

Kalanithi Maran-owned Sun Group has five of the 28 companies in the shortlist for the phase III auction. The decision could also impact the 45 stations run by the group under the Red FM banner.

In the first phase of the auctions, 135 channels in 69 cities are up for sale, after which the auctions were supposed to be held for slots in smaller cities. I&B ministry has finished all processes related to the FM auctions but is waiting for the Sun matter to be solved to get started, an official said.

Bad News. :(

Read More at: Sun FM stations face auction blackout-Times of India-News-WSFDV
 
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