RANK OUTSIDER PROPOSES MMDS SERVICE

The S.K. Modi group, which has failed on at least two earlier occasions to make a successful foray into the television business, is proposing a US$750 million MMDS project for the Indian market. The group has set up a new firm Modi Regent Communications Corp in partnership with UK firm Regent Communications, which is has an equity relationship with Australian firm Wattle Park Partners. The two companies have already completed a business feasibility study and will go ahead with the new project once regulations are put in place. Wireless cable is expected to be allowed under the new telecom and broadcast policies which are to be announced in future. The broadcast bill had given the go-ahead to this mode of television distribution a couple of years ago.