TV Today Network has approved the sale of its FM radio broadcasting business—including stations in Mumbai, Delhi, and Kolkata—to Abhijit Realtors via its subsidiary Vibgyor Broadcasting. The deal values the business at Rs. 10 Crores and aims to complete by May 2026, allowing the company to prioritize its core media operations.
TV Today Network Limited, as authorized by its Board of Directors and approved by a Special Committee, has agreed to enter a Memorandum of Understanding (MOU) with Abhijit Realtors and Infraventures Private Limited for the sale of its FM radio broadcasting operations. The radio business consists of three stations at 104.8 FM frequencies in Mumbai, Delhi, and Kolkata, operated through Vibgyor Broadcasting Private Limited, a wholly owned subsidiary of TV Today.
This transaction is subject to regulatory approvals from the Ministry of Information and Broadcasting (MIB) and fulfillment of contractual obligations. The sale includes a consideration of Rs. 10 Crores plus applicable taxes, split into two payments: Rs. 5 Crores at signing and Rs. 5 Crores within three months.
In FY 2024-25, the radio segment generated Rs. 14.16 Crores in revenue, accounting for 1.41% of the group's total turnover, but reported a net loss of Rs. 10.54 Crores. The strategic move aims to streamline the group’s focus on its core businesses. Completion of the sale is expected by May 31, 2026, with flexibility for mutually agreed extensions.
Key Highlights:
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FM radio business operates in Mumbai, Delhi, Kolkata on 104.8 FM via Vibgyor Broadcasting, a TV Today subsidiary.
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Sale consideration is Rs. 10 Crores plus taxes, payable in two tranches.
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Radio segment revenue was Rs. 14.16 Crores in FY 2024-25; posted a loss of Rs. 10.54 Crores.
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Buyer, Abhijit Realtors, is not related to the promoter group and is active in real estate and entertainment.
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Regulatory approvals and contractual terms must be fulfilled prior to completion.
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No impact on TV Today's shareholding pattern.
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Transaction reflects strategic refocus on core media operations.
Sources: NSE Circular, TV Today Network Limited official announcement.