TV Today Network Invests ₹9.4 Crore in Vibgyor Broadcasting to Boost Net Worth for Radio Business Sale

TV Today Network has invested ₹9.4 crore in its wholly owned subsidiary, Vibgyor Broadcasting, via a rights issue. This involves the allotment of 94 lakh equity shares at ₹10 each, ensuring Vibgyor meets the Ministry of Information and Broadcasting's net worth requirements for acquiring the radio business. The FM Radio operations, branded as ‘Ishq 104.8 FM,’ include stations in Mumbai, Delhi, and Kolkata. Despite reporting losses in FY24, the investment aligns with TV Today Network's plan to sell its radio business to Creative Channel Advertising for ₹20 crore by January 2026. Post-allotment, TV Today retains 100% ownership of Vibgyor Broadcasting.

 

Source: Exchange4Media, Storyboard18