HT Media on Friday announced that its subsidiaries have decided to surrender multiple FM radio licences issued by the Ministry of Information and Broadcasting (MIB), citing financial and strategic unviability of the stations.
The company said that Next Radio Limited, a subsidiary of HT Media, and HT Music & Entertainment Company Limited, a wholly owned subsidiary of the company, have decided to surrender licences for operating several FM radio stations across major cities.
The stations include Radio Nasha in Mumbai, Radio One stations in Delhi, Mumbai and Bengaluru, and Fever FM in Chennai.
According to the company, the subsidiaries are in the process of submitting applications to the MIB for surrender of these licences.
HT Media disclosed that the combined turnover of these radio stations stood at Rs 29.19 crore in FY25, accounting for 1.62% of the company’s consolidated revenue.
However, the stations reported a combined negative net worth of Rs 172.08 crore, equivalent to 10.33% of the company’s consolidated net worth. HT Media’s overall consolidated net worth for FY25 remained positive at around Rs 1,666.29 crore.
The company said the decision was taken after evaluating the long-term financial and strategic viability of the stations.
The move comes at a time when India’s radio industry is witnessing significant pressure from declining advertising revenues and changing consumer behaviour.
According to the FICCI-EY Media & Entertainment Report 2026, the Indian radio industry declined to Rs 2,300 crore in 2025, reflecting continued erosion in both ad revenues and audience reach.
Advertising revenues, the key growth driver for the industry, fell 7% during the year as advertisers increasingly shifted budgets toward digital platforms that offer stronger targeting and measurable returns.
The sector is also grappling with structural technological changes. A growing number of smartphones and automobiles are no longer equipped with FM receivers, reducing accessibility for traditional radio listeners and gradually shrinking the medium’s audience base.
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