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New Delhi: TV Today Network will exit the FM radio business and sell its 104.8 FM network to Abhijit Realtors and Infraventures in a deal routed through its wholly owned subsidiary Vibgyor Broadcasting.
In a filing with the stock exchanges, the company said a Special Committee of Directors on November 25 approved entering into a Memorandum of Understanding (MoU) with Abhijit Realtors for the proposed sale and transfer of its FM radio broadcasting operations in Mumbai, Delhi and Kolkata, as a going concern through Vibgyor.
The transaction is subject to contractual conditions and regulatory approvals, including permissions from the Ministry of Information and Broadcasting.
TV Today will receive Rs 10 crore plus applicable taxes for the business. Of this, Rs 5 crore will be paid at the time of signing the MoU and the remaining Rs 5 crore within three months of that date. The deal is expected to be completed on or before May 31, 2026, with an option for the parties to extend the timeline by mutual consent.
The 104.8 FM operation, housed in Vibgyor, contributed Rs 14.16 crore in revenue in FY 2024-25, which was 1.41% of TV Today’s total turnover for the year.
The unit reported a net loss of Rs 10.54 crore in the same period, underscoring the financial strain on the radio portfolio.
The company said the rationale for the sale is to focus on its core business areas, indicating that radio is no longer strategic within its broader portfolio of news and broadcast assets.
The transfer of the radio business from TV Today to Vibgyor will be treated as a related-party transaction but will be done at arm’s length, while the onward sale from Vibgyor to Abhijit Realtors will not be a related-party deal.
Abhijit Realtors and Infraventures, incorporated in 2007, is engaged in real estate, radio and entertainment, with an authorised capital of Rs 3 crore and paid-up capital of Rs 2.7 crore.
It does not belong to the TV Today promoter or group companies. The company has clarified that there will be no change in its overall shareholding pattern as a result of the sale.