Radio One promoters to infuse new capital into the company as they prepare to participate in tenders for new frequencies that the government is open to the private sector.

Radio One, the joint venture following MediaWorks (Multimedia soon as mid-day) and BBC Worldwide, a leading FM stations in seven cities (Delhi, Mumbai, Chennai, Kolkata, Bangalore, Ahmedabad and Pune).

“Developers will soon inject more money into Mediaworks Alongside strengthening our balance sheet and prepare for the next round. This is an exciting time for the radio industry and Radio One will be in front of these events,” Tariq Ansari CMD Next MediaWorks .

Radio One in the first-quarter loss before taxes amounted to 11.7 million rupees, less than 79 per cent of Rs 57 million years past. However, Radio One said it was because of the “one time gain.”

Sales for the three months ended June 2011 rose 14 percent to Rs 111 300 000, compared to R 97,900,000 last year.

Radio One CEO Vineet Hukmani Singh said, “was an interesting area, where we saw good growth in listening to the IRS and the RAM in all our markets. Feeling the slight slowdown in sales in Mumbai and New Delhi have been capable of ensuring regional and local revenues, as expected. We have developed a new source of income in the space with live music seven concerts under our belt and in our cities. With lucrative meters longer with us, the balance within our reach , we seek to expand properly in most metro cities in Phase 3 with our low-cost model. “