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Information and broadcasting ministry has also firmed up changes
that would be effected in the radio broadcast policy, including
those for FM radio, wherein the bidding process would not be done
away with.
Speaking to journalists on the sidelines of a function to announce
measures being taken by the ministry relating to content regulation,
which was reported by indiantelevision.com last week only, a senior
ministry official said, "We are of the opinion that FII investment
in news channel ventures should be allowed and a note relating to
this has been circulated amongst other ministries."
As reported by indiantelevision.com earlier, the clarification
on FII investment in news channels uplinking from India would be
issued by the government "soon after a formal Cabinet nod is
taken," the official said.
This sets to rest speculation on FIIs investments, making life
easier for listed media companies like TV Today Network, Television
Eighteen and NDTV. In one case, NDTV had to issue an advisory to
investors saying FIIs and people of foreign origin and/or non-resident
Indians should not deal in NDTV shares on the stock exchange s the
limit had been reached.
The government official also said that a note on radio policy has
been finalised, which partly takes suggestions from the sector regulator,
Telecom Regulatory Authority of India.
Though the bidding process in unlikely to be done away with fully,
the official pointed out that a licensing structure would be put
in place with the aim to keep the fee at a "reasonable"
level.
The I&B ministry has also decided to truly empower the people
with community radio by handing over such projects to the community
minus cumbersome clearance procedure.
Meanwhile, I&B minister Jaipal Reddy today announced that a
roundtable of broadcast industry stakeholders have been called to
dwell on various aspects of content regulation, which would be separate
from a downlinking policy that had been proposed.
The interaction, slated for later this week, is expected to come
out with recommendations for amendments in the existing programming
and advertising code, changes that need to be effected in the role
and functions of a regulatory body and the nature and scope of codes
and standards under the proposed new legislation.
Read earlier reports:
I&B
ministry clears FII investment in TV news channels
Reddy
okays FII investments in news channels
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