HT Media is surrendering its major FM radio licences across metro markets. The move comes after massive pressure on private FM broadcasters from rising operational costs, changing audience preferences and competition from digital streaming and OTTs.

The stations are expected to cease operations from June 15, 2026, according to regulatory disclosures.

Some industry experts blame the outdated regulatory structure, which is now becoming a setback for India’s private radio sector.

The company, through its subsidiaries Next Radio Ltd and HT Music and Entertainment Co Ltd, has approved the surrender of licences for the Radio Nasha, Radio One and Fever FM stations in Mumbai, Delhi, Bengaluru and Chennai.

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HT Media scales back FM radio operations

The affected stations include Radio Nasha 91.9 FM in Mumbai, Radio One 94.3 FM in Delhi, Mumbai and Bengaluru and Fever 91.9 FM in Chennai. HT Media said the stations had become “financially and strategically unviable”.

According to company disclosures, the radio stations contributed around Rs 29.19 crore to the group’s FY25 turnover, accounting for roughly 1.62 per cent of consolidated revenue. The operations also carried a negative net worth of more than Rs 172 crore.

The surrender adds to a broader trend of consolidation and exits in the radio industry. Several broadcasters have either shut stations or scaled back operations in recent years as advertising revenues remain under pressure and audiences increasingly shift toward streaming platforms, podcasts and digital audio services.

Industry executives say the economics of FM broadcasting have weakened sharply over the past decade despite growth in India’s broader media and entertainment sector.

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Broadcasters seek policy reforms to revive the radio sector

The Association of Radio Operators for India (AROI) has renewed its calls for reforms, including a lower Goods and Services Tax (GST), changes to licence fee structures and the mandatory activation of FM radio chips in smartphones.

Broadcasters have also sought automatic extension of existing Phase III licences after 2030 without fresh auctions. They have also requested permissions for private FM stations to air news and current affairs programming under a regulated framework.

Executives argue that while audio consumption in India continues to grow through digital formats, domestic FM broadcasters remain constrained by legacy regulations and high operating costs.

The latest licence surrender by HT Media is likely to intensify debate over the future of private FM radio in India, especially as broadcasters seek regulatory support to remain commercially viable in an increasingly digital audio market.