TV Today Network announced on Tuesday that its Special Committee of Directors, in a meeting on February 25, 2025, approved key proposals concerning its FM radio business under Ishq FM.
The committee approved signing an MoU with Creative Channel Advertising and Marketing for the planned sale of its radio operations. The deal covers three FM stations in Mumbai, Delhi, and Kolkata, which currently broadcast on 104.8 FM.
The deal is valued at Rs 20 crore, plus applicable taxes, with Rs. 10 crore to be paid at the time of signing the MoU and the remaining Rs. 10 crore due upon completion, pending regulatory clearances from the Ministry of Information and Broadcasting and other necessary approvals.
TV Today may execute the sale directly or through a wholly owned subsidiary like Vibgyor Broadcasting. The transaction is expected to be finalised by January 31, 2026.
The committee also approved an Advertising Sales Agreement with Creative Channel, allowing the company to handle airtime sales for the three FM stations.
Creative Channel will serve as a sales agent, earning a professional fee for marketing airtime to advertisers.
TV Today's decision to exit the radio business follows a Board resolution on January 9, 2025, citing industry challenges. After receiving interest from potential buyers, the company secured approval for the sale on February 11, 2025.
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