Deals25 Feb 2025, 10:44 pm
TV Today Network Ltd. Approves MOU with Creative Channel for Sale of FM Radio Broadcasting Operations
AI Summary
TV Today Network Ltd. has approved a proposal to enter into a Memorandum of Understanding (MOU) with Creative Channel Advertising and Marketing Pvt. Ltd. for the sale of its FM Radio Broadcasting Operations. The sale includes three FM radio stations in Mumbai, Delhi, and Kolkata under the frequency 104.8 FM. The deal is expected to be completed by January 31, 2026, for a consideration of Rs. 20 Crore plus applicable taxes. Creative Channel does not belong to the promoter/promoter group/group companies.
Key Highlights
- TV Today Network Ltd. has approved a proposal to sell its FM Radio Broadcasting Operations to Creative Channel Advertising and Marketing Pvt. Ltd.
- The sale includes three FM radio stations in Mumbai, Delhi, and Kolkata under the frequency 104.8 FM.
- The deal is expected to be completed by January 31, 2026, for a consideration of Rs. 20 Crore plus applicable taxes.
- Creative Channel does not belong to the promoter/promoter group/group companies.
- The decision to sell the Radio Business was made due to the state of the industry and its dynamics.