MUMBAI: Media company-DB Corp’s Foreign Direct Investment (FDI) or Foreign Institutional Investors (FIIs) is expected to rise from its current 20 per cent to 26 per cent, after the Phase III auctions. Currently, DB Corp’s radio segment, MY FM operates in seven states and 17 cities in the country.

During the Phase III auctions, the company acquired 14 frequencies, through which MY FM will extend its presence to seven states and 30 cities.

Out of the 14 channels, nine frequencies have been acquired in Maharashtra; however, this does not include the cities Mumbai and Pune. DB Corp, which is home to flagship newspapers like Dainik Bhaskar, Divya Bhaskar and Divya Marathi, through acquisition in Maharashtra, is expected to complement the local ad medium to Divya Marathi. The company will have to shell-out more than Rs 30 crores to expand with new channels.

With frequencies in Rajasthan and Bihar, Dainik Bhaskar has further strengthened its hold in these regions.

DB Corp limited, deputy managing director Pawan Agarwal said, “MY FM has consolidated its presence in line with our stated energy to be the market leader in ‘Unmetro’ geographies where DBCL has a significant print media footprint. MY FM has now extended its presence to 7 states and 30 cities. The circuits we have acquired are very strategic to our print presence and complement our ability to provide and better reach and proposition for national advertisers, as well as supplement our overall topline, as we progress.”