TV Today Network gets board approval for sale of radio biz to Creative Channel
The proposed sale of FM Radio Broadcasting Operations of the company, comprises three FM radio stations in Mumbai, Delhi and Kolkata under the frequency 104.8 FM
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Published: Feb 26, 2025 12:13 PM | 1 min read
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The TV Today Network has said that its committee of directors has approved an MoU with Creative Channel Advertising and Marketing in relation to the proposed sale of FM Radio Broadcasting Operations of the company (comprising three FM radio stations in Mumbai, Delhi and Kolkata under the frequency 104.8 FM).
This is subject to the fulfilment of contractual obligations and receipt of all necessary regulatory approvals, including permissions from the Ministry of Information and Broadcasting, Government of India (MIB) and fulfilment of other compliances as may be
required.
The network’s radio business is expected to be closed in nearly one to six months, the company had earlier informed the stock exchanges.
As the reason for the move, the company has said: “Given the state of the industry, its dynamics and evolution of FM Radio Broadcasting business, the Board of Directors considered it in better interest of the Company to close this business instead of continuing the same.”
As per the company disclosure, the turnover of radio business in FY 2023- 24 was Rs 16.18 crore. This was 1.70% of the total turnover of TV Today Network Limited for the said year.
The company’s radio business has also recorded a loss of Rs 19.53 crore for FY 2023-24.
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