HT Media Exits Metro Markets: Radio Nasha 91.9 and Other FM Stations To Go Silent by June 15; Here's Why
HT Media will voluntarily shut down four metro FM radio stations - Radio Nasha in Mumbai, Radio One in Delhi, Mumbai, and Bengaluru, and Fever FM in Chennai - by June 15. The exit from these unviable markets is driven by a shifting digital-first audio economy, a 7 per cent drop in sector ad revenues, and declining hardware support for FM.
In a clear sign of mounting economic pressure on legacy broadcasting, HT Media Limited and its subsidiaries have announced a voluntary exit from core segments of their FM radio business. According to recent regulatory filings, the company will surrender its wireless licenses for four key metro stations and completely cease operations by June 15. The affected frequencies include Radio Nasha 91.9 FM in Mumbai, Radio One 94.3 FM across Delhi, Mumbai, and Bengaluru, and Fever 91.9 FM in Chennai, signalling a strategic retreat from India's highly competitive major metropolitan markets.
HT Media Limited's Financial Realities and Early Exit
The decision to shut down the stations comes despite the fact that the underlying spectrum licenses remained valid for several more years. The license for Radio Nasha was locked in until March 2031, while those held by the subsidiary networks were set to expire in March 2030. Rather than absorbing multi-year operational losses, the company opted for an early exit, officially categorising the targeted radio operations as “financially and strategically unviable". Prasar Bharati Dismisses AIR Stations Closure Rumour, Reveals Plans to Expand Network.
Data from the company’s audited financial statements highlights the stark fiscal imbalance that prompted the closures. During the 2024–25 fiscal year, the four stations collectively generated INR 29.19 crore in turnover, contributing a marginal 1.62 per cent to HT Media's total consolidated revenue. Conversely, the combined net worth of these specific radio divisions plummeted to a negative INR 172.08 crore as of March 31, 2025.
HT Media emphasised that the move is purely voluntary and does not stem from any regulatory non-compliance, suspension, or penalty. Formal applications for the early termination are currently being processed by the Ministry of Information and Broadcasting. The parent group’s broader corporate stability remains intact, with its overall consolidated net worth reported at approximately INR 1,666 crore.
Structural Shifts in the Audio Economy
The retrenchment reflects deep structural challenges across India's traditional private FM sector, which has been severely squeezed by a digital-first audio economy. According to data from the FICCI-EY Media and Entertainment Report 2026, the domestic radio industry contracted to INR 2,300 crore in 2025. During that period, ad revenues fell by 7 per cent, making radio the only major media sector to experience a decline while the broader national entertainment market grew by 9 per cent. Industry executives point out that premium metro markets are bearing the brunt of audience fragmentation. On-demand digital streaming platforms like Spotify, JioSaavn, and YouTube Music have steadily drawn urban listeners away from scheduled linear programming. Advertisers have followed this migration, shifting budgets toward digital channels that offer precise audience targeting and transparent performance tracking. ISRO Developed 'Radio Garden' that Enables People to Listen to Stations From Across The World? PIB Fact Check Reveals The Truth Behind Viral Message.
Regulatory Hurdles and Hardware Changes
Beyond shifting consumer preferences, private FM operators face rigid regulatory costs and technological barriers. Industry representatives note that up to 40 per cent of gross radio revenues are heavily consumed by a combination of high entry fees, 18 per cent GST, annual license costs, and mandatory tower charges. Furthermore, strict 40 per cent city-level ownership caps have historically prevented local operators from consolidating to achieve better operational efficiency. A shifting hardware ecosystem has also steadily eroded the traditional listening base. A growing percentage of modern smartphones and newer automobile models are no longer manufactured with internal FM receivers, limiting the physical accessibility of over-the-air broadcasts.
HT Media confirmed that it has not entered into any transaction to sell off the frequencies or transfer the underlying assets to other broadcasters. While the company is reducing its presence in these premium metro bands, it will continue to manage its primary print, digital, and remaining radio operations under its standard portfolio, which includes flagship brands such as the Hindustan Times, Mint, and core regional iterations of Fever FM.
(The above story first appeared on LatestLY on Jun 08, 2026 10:27 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
