TV Today Network currently operates three FM radio stations in Mumbai, Delhi and Kolkata under the frequency 104.8 FM, which contributed 1.7 per cent of its revenue in FY24
“The Board of Directors of TV Today Network Limited at their meeting held today, i.e., January 09, 2025, has inter alia approved the closure of FM Radio Broadcasting operations of the Company subject to regulatory approvals, if any, and fulfilment of other compliances as may be required,” it said.
The radio business is expected to be closed in nearly one to six months, TV Today Network added further.
While citing the reason for closure, the private news channel broadcaster said: “Given the state of the industry, its dynamics and evolution of FM Radio Broadcasting business, the Board of Directors considered it in the better interest of the Company to close this business instead of continuing the same.”
The radio business turnover was at Rs 16.18 crore and registered a loss of Rs 19.53 crore in the financial year ended March 2024. Shares of TV Today Network Ltd on Thursday were trading at Rs 218.05 per scrip on BSE, up 4.36 per cent from the previous close.
