Wireless communication has surpassed all the boundaries in its growth. There is a widespread research going on in increasing the capacity to accommodate the growing communication demand in many aspects. Device-To-Device (D2D) communication is one such aspect. Current wireless communication systems, such as Cellular networks or Wi-Fi networks, rely on intermediate infrastructure when devices talk to each other which limits bandwidth utilization and energy efficiency. Foolproof way to improve the system is to enable the direct communication between the devices. In such a envisioned network devices need to autonomously advertise their presence and service capabilities along with discovering other nearby devices, without consuming too much energy and preferably without requiring clock synchronization. In this regard we present Tic-Toc, an asynchronous device discovery and rendezvous protocol, which provides platform on which communication protocol for D2D communication will be built. There already approaches exist to solve asynchronous device discovery problem, they all evaluate their performance on the basis of just how fast scheduled active slots of two nodes overlap. They do not present any pattern for transmit and listen actions during those active slots. Discovery happens when listen slot of one node overlaps with transmit slot of another node, so it is not enough that existing approaches just target overlapping of any active slots of two nodes. In response to these limitations, Tic-Toc provides separate discovery schedule for nodes to transmit and listen, yet provides better average-case and worst-case discovery latency compared to the existing protocols. We extend this D2D communication protocol paradigm to exploit the resources available in FM band. This thesis provides the networking analysis to do feasibility study of using Radio Data System (RDS) technology for Tic-Toc protocol.