TV Today Network Limited announced on Tuesday that its Special Committee of Directors has entered into a Memorandum of Understanding (MOU) with M/s Creative Channel Advertising and Marketing Pvt. Ltd. regarding the proposed sale of the company’s FM radio broadcasting operations. The sale includes three FM radio stations in Mumbai, Delhi, and Kolkata, operating under the 104.8 FM frequency.
TV Today Network informed the stock exchanges that Creative Channel Advertising and Marketing Pvt. Ltd. (Creative Channel) is engaged in television broadcasting, advertising, and programming activities. The sale of the radio business is expected to be completed on or before January 31, 2026.
The radio stations were sold for ₹20 crore plus applicable taxes, with ₹10 crore plus applicable taxes payable at the time of executing the MOU and the remaining ₹10 crore plus applicable taxes due on the closing date, subject to all regulatory approvals.
The sale may be executed directly by TV Today or through a wholly owned subsidiary, such as Vibgyor Broadcasting Pvt. Ltd., and is expected to be completed by January 31, 2026.
As part of the agreement, Creative Channel will sell advertising airtime on the company’s radio stations based on agreed terms. Creative Channel will market the company’s airtime to various third parties, including government agencies and corporate entities, in the open market.
Creative Channel Advertising and Marketing Pvt. Ltd. specializes in television broadcasting, advertising, and programming activities and has expertise in marketing and selling advertisements to third parties. TV Today Network will leverage Creative Channel’s sales support to facilitate the sale of airtime to advertisers.
The decision to sell follows a resolution by the Board of Directors on January 9, 2025, to close the radio business due to industry dynamics. Further approval for the sale was granted on February 11, 2025, after receiving interest from potential buyers.
The turnover of TV Today’s radio business in the fiscal year 2023-24 was ₹16.18 crore, representing 1.70% of the total turnover of TV Today Network Limited for that year. Given that the radio business is operating at a loss, its net worth contribution is nil.