TV Today Network to Sell FM Radio Business to Abhijit Realtors
TV Today Network to sell FM Radio Broadcasting Operations to Abhijit Realtors for ₹10 Crore plus taxes. The deal is expected to be completed by 31st May 2026.
The sale of the FM Radio Broadcasting Operations, representing 1.41% of the company's turnover, is likely to have a moderate impact on the company's financials and strategic direction.
The announcement involves the sale of a business segment, which is neither inherently positive nor negative. The rationale provided is to focus on core business areas.
* TV Today Network's Special Committee of Directors approved the proposal to enter into a Memorandum of Understanding (MOU) with Abhijit Realtors and Infraventures Private Limited for the sale/transfer of its FM Radio Broadcasting Operations. * The Radio Business includes three FM radio stations in Mumbai, Delhi, and Kolkata operating under the frequency 104.8 FM. * The sale will be executed through Vibgyor Broadcasting Private Limited, a wholly-owned subsidiary of the company, subject to contractual obligations and regulatory approvals. * The turnover of the Radio Business in FY 2024-25 was ₹14.16 Crore, representing 1.41% of the total turnover of T.V. Today Network Limited. * The net worth contribution from the Radio Business was a loss of ₹10.54 Crores for FY 2024-25. * The consideration for the sale/disposal is ₹10 Crores plus applicable taxes, with ₹5 Crores plus taxes payable upon execution of the MOU and the remaining ₹5 Crores plus taxes within three months of signing the MOU. * The expected completion date of the sale/disposal is on or before 31st May 2026, which may be extended by mutual agreement. * The rationale for the sale is to focus on the company’s core business areas. * The transaction between Abhijit Realtors and the Company will be done through Vibgyor, and the transfer of radio business by the Company to Vibgyor would be a related party transaction and would be done on an arm’s length basis.
What to do with a filing like this
TV Today Network Limited filed this with the NSE as a statutory disclosure, categorised under merger. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by TV Today Network Limited. Read the original for the full detail.