The reserve price for radio channels in FM phase III expansion will be decided on the basis of the amount bid in phase II auction, the information and broadcasting ministry said. "The reserve price for new channels in existing FM phase II cities shall be the highest bid price received for that city in phase II. In cities that are being taken up afresh, the reserve price shall be the highest bid price received during FM phase II for that category of cities in that region," I&B minister Manish Tewari said. He was responding to a question in the Rajya Sabha. Financial Express 17/12
