Anil Ambani-led Reliance Broadcast Network Ltd — formerly known as Reliance Media World — plans to tap the private FM radio segment, which is expected take a leap when the third phase of licensing for stations kicks off.
"The radio industry is poised for exponential growth with phase III and the opening up of around 700-odd new licences... We are already the largest player in the country with 45 stations and would like to take radio penetration deeper into the country," said Tarun Katial, chief executive officer, RBNL.
He, however, declined to comment on the number of new radio stations the company was planning to add.
"We would have to first read the fineprints of the licence. Only then we would decide."
After opening the FM radio sector to private players in 2000, the government has completed two phases of privatisation by 2006. The third phase is expected to kick off by 2011.
On investment for the radio segment, he said part of the R400-crore fund that RBNL had recently raised would be utilised to bid of new radio stations (in phase III).