"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 licencing", Peter Mukherjea, CEO, Star India said on the sidelines of the Indian Economic Summit.
Bidding for the second phase of FM radio ended on November 11, many foreign players including BBC and Germany's international broadcaster DW are looking to make a foray in the segment.
Currently 20 per cent of foreign direct investment is allowed in the private FM radio sector. About the company with whom Star India was in discussion in this regard, Mukherjea said the entertainment giant would take a decision only after scrutinising various aspects of prospective partners.
"We have to see for how many cities they have got licences, what are their plans for content among other factors," he said.
Star Group chief executive officer Michelle Guthrie also confirmed on the sidelines of the summit that the group was looking at entering the private FM radio sector in India.