"We as a news channel welcome the move. This will effectively allow access to foreign funds and allow news organisations to grow more, both nationally and regionally," Global Broadcast News Joint Managing Director Sameer Manchanda told PTI.
He said the move may help attract more global players in India and even the FIIs can participate in this growing industry.
Echoing similar sentiments, Big FM Chief Operating Officer Tarun Katial said: "It is a very good move as the FM industry is a very capital intensive industry. This will help FM players in accessing funds and expanding further."
Similarly, TV Today Group CEO G Krishnan said it was a move in the right direction. "The development will enable Indian companies to raise more capital and expand faster," he said, adding the quality of news service would not be impacted.
INX Media CEO Indrani Mukherjea said allowing more foreign money was good for the economy as a whole.
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"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 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.
The current limit of foreign investment is 20 per cent in FM radio services, while in the uplinking of TV news channels it was 26 per cent.