HT Media has announced the shutdown of several of its FM radio brands, including Radio Nasha, Radio One and Fever FM, in major cities, as its subsidiaries move to surrender their broadcast licences. The company said that Next Radio Limited and HT Music & Entertainment Company have decided to exit the business after judging the stations to be financially and strategically unviable amid deep structural challenges in the radio sector.
The affected stations include Radio Nasha in Mumbai, Radio One in Delhi, Mumbai and Bengaluru, and Fever FM in Chennai. Applications are being submitted to the Ministry of Information and Broadcasting for surrender of the respective FM licences. HT Media disclosed that these stations together recorded a turnover of Rs 29.19 crore in FY25, or about 1.62% of its consolidated revenue, but posted a combined negative net worth of Rs 172.08 crore, roughly 10.33% of the company’s total net worth.
The decision comes as the Indian radio industry faces declining ad revenues and audience reach. The FICCI–EY Media & Entertainment Report 2026 pegs radio revenues at Rs 2,300 crore in 2025, with advertising continuing to fall by around 7% as brands shift spending to digital platforms offering better targeting and measurability. At the same time, changing technology-especially the reduced inclusion of FM receivers in smartphones and cars-is eroding the medium’s accessibility and audience base, making the FM radio model harder to sustain.
