By NNN-PTI,
New Delhi : The Indian news broadcasting industry today hailed TRAI’s recommendations to allow foreign investments to 49 per cent in news channels saying the move would help in expanding the sector with access to overseas funds.
“We as a news channel welcome the move. This will effectively allow access to foreign funds and help news organisations grow more, both nationally and regionally,” Global Broadcast News Joint Managing Director Sameer Manchanda told PTI.
He said the move may help in attracting more foreign players in India and even the FIIs can also participate in this growing industry.
“The development will enable Indian companies to raise more capital and expand faster,” TV Today Group CEO G Krishnan said, adding the quality of news service would not be impacted.
Welcoming the move, INX Media CEO Indrani Mukherjea said allowing more foreign money is good for the economy as a whole.
“But the channels which will raise money through FDI or FII should protect the interest of the nation,” she added.
Allaying fears of foreign hand interfering in news operations, Manchanda said: “As such there is a clause that requires the CEO of the news organisation and the Editor-in-Chief to be an Indian.” The regulator today recommended raising the foreign investment limit in news channels and FM radio to 49 per cent. TRAI has, however, maintained status quo in case of uplinking of non-news TV channels and downlinking of TV channels at 100 per cent foreign investment limit.