The Economic Times: This is not great news for satellite radio business in India – especially WorldSpace which is the only player at the moment. The government is mulling bringing down the foreign direct investment in satellite radio sector from 100 per cent to 49 per cent. This means WorldSpace will have to sell 51 per cent of the company to an Indian partner. The Telecom Regulatory Authority of India had earlier recommended retaining 100% FDI in the sector. However, the government does not believe so.
This is bad news for WorldSpace since India is the biggest market for WorldSpace and accounts for close to 75 per cent of its global subscriber base. WorldSpace currently uplinks from Singapore.
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post