Three FM radio stations operating on the frequency 104.8 FM in Mumbai, Delhi, and Kolkata are part of the company’s proposed sale of its FM radio broadcasting operations.
TV Today Network’s board of directors has approved a Memorandum of Understanding with Creative Channel Advertising and Marketing to sell FM Radio Broadcasting Operations, which includes three 104.8 FM stations in Mumbai, Delhi, and Kolkata.
This requires contractual compliance, regulatory clearances, including those from India’s Ministry of Information and Broadcasting (MIB), and other compliances.
The radio division will likely close in a year or six months, the network told stock exchanges.
“Given the state of the industry, its dynamics, and evolution of FM Radio Broadcasting business, the Board of Directors considered it in the better interest of the Company to close this business instead of continuing the same,” the company stated as the rationale for the decision.
Revenue from the radio segment was Rs 16.18 crore in the fiscal year 2023–24, according to the company’s disclosures. For that particular year, it amounted to 1.70 percent of TV Today Network Limited’s overall revenue.
For FY 2023–2024, the company’s radio division likewise reported a loss of Rs 19.53 crore.
