January 14th, 2006
Incredible as it sounds, Adlabs bid a whopping Rs. 15 crores for Chandigarh’s FM frequencies and they won. The company is backed by Anil ‘Reliance’ Ambani (he bought it last year). The second bid for Chandigarh was from Bhaskar Group (the publishers of Dainik Bhaskar) for Rs. 10 crores. Apparently Chandigarh got the highest bid among the 21 cities for whom the bids were invited.
Chandigarh lacks a good radio station. We only have two: Local AIR and the limited duration Kasauli’s retransmission of AIR Delhi’s FM station. This is underlined by Rajesh Sawhney (President, Reliance Entertainment):
We have managed to get the key cities of Punjab, including Chandigarh. These markets are under-served by radio and we see great advertising potential here, especially from local advertisers.
So with Adlabs entry, things are finally looking up and maybe in another decade or so, we’ll have a healthy competition between different radio stations here.