Top Story

e4m_logo.png

Home >> Media – Print >> Article

TV Today Network announces Mail Today, radio rejig

14-December-2016
Font Size   16
Share
TV Today Network announces Mail Today, radio rejig

The TV Today Network has informed the BSE that its board of directors has inter-alia approved the acquisition of equity shares of Mail Today Newspapers Private Limited (Mail Today) from its other shareholders along with a reorganization of its radio business.

Living Media India Limited (LMIL) holds 66.78 per cent of the equity shares through its wholly owned subsidiary India Today Online Private Limited (ITOPL), while AN (Mauritius) Limited holds 25.21 percent of the equity shares of Mail Today. Both the entities will transfer the shares to TVTN as a gift so that Mail Today becomes a wholly owned subsidiary of the company. TVTN has valued the equity shares held by ITOPL at Rs 26.80 crore and those held by AN (Mauritius) Limited at Rs 10.12 crore. The company informed the bourses that the fair value loss (under IND AS) in connection with investment in Mail Today shares presently held by the company amounted to Rs 42.30 crore.

Meanwhile, the company also said that its board has approved the acquisition of 100 per cent of the issued and paid up capital of Vibgyor Broadcasting Private Ltd. for the purpose of reorganizing its radio business by transferring its radio business through slump sale to the aforesaid entity. TV Today Network runs its radio operations under the brand name Oye FM.

“The transfer of radio business into a separate company is being done to segregate the radio business operations and to have better focused for the same and enhance the business value in the subsidiary,” said TV Today Network in the statement to the stock exchange.

It may be recalled that TV Today Group had managed to successfully complete the sale of 4 of its stations to the Times Group subsidiary ENIL last year along with entering into ad sale partnerships with ENIL for its remaining stations in Mumbai , Delhi and Kolkata.

http://www.exchange4media.com/radio/tv-today-sells-4-radio-stations-to-enil-in-rs-4-crore-deal_61642.html

Bhasin on the checks and balances of new IRS, methodology with new companies like Vedsur on board, interpreting the data and why it’s not fair to compare with previous data

Chitresh Sinha, CEO, Chlorophyll Innovation Lab and Vivek Singh, Joint MD, Procam International speak exclusively with exchange4media on the upcoming #BeBetter Campaign for the TATA Mumbai Marathon

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

Brands have discovered the immense potential videos hold in today’s socially connected world and organic video virality has become every marketer’s dream

Punjab has witnessed highest growth, of more than 50% DTH penetration, followed by HP and J&K

IRS 2017 has been reinforced with design, methodology, quality, and questionnaire enhancements to ensure the highest integrity of the data.