Private FM radio players urge for a rescue package

India’s private FM radio operators have urged the Government for a rescue package that entails a five year extension to their license period, arguing that such a move will be important for the viability of fledging private FM sector. High start-up costs have been weighing down the sector’s profitability over the past decade. According to Vineet Jain, managing director of Times of India, “ While private sector has done all that was possible to invest in and grow the FM sector, it is now time for the government to urgently step in and make some policy corrections to ensure the viability and indeed the very survival of this infant industry. The logical thing would be an extension of the license period to 15 years”.