Star may buy stake for FM foray

Star is planning to pick up stake in an Indian company for entry into the private FM radio sector.

"We are interested in the private FM radio sector, and will be entering it by picking up equity in one of the successful bidders of the second phase of bidding for licences," Peter Mukherjea, chief of Star India, said today.

The bidding for the second phase of FM radio ended on November 11, and many foreign players, including BBC and Germany-based broadcaster DW, have expressed interest in the segment.