Terrestrial broadcaster Antenna Hungária has signed a contract for the analogue broadcasting of two commercial FM radio frequencies recently awarded to Advenio and the Est Media Group-led FM1 consortium, the companies announced in a joint statement on Monday.
ORTT, Hungary's national body in charge of awarding radio frequencies, announced on November 4 that it had signed seven-year radio-broadcast concession-agreements with Advenio and the FM1 consortium for the two frequencies.
The broadcasting contract between the companies and Antenna Hungária is valid for the entire duration of the concessions.
Advenio will pay an annual inflation-adjusted fee of HUF 700 million for its frequency until the middle of 2011, after which the company will pay an annual HUF 200 million plus 55% of the revenue generated from its radio station, to be called Class Radio.
FM1 will pay HUF 355 million for its frequency until the middle of 2011, after which it will pay an annual HUF 200 million plus 50% of the revenue generated from its radio station, to be called Neo FM.
The stations will begin broadcasting on November 19. (MTI-Econews)