TV Today to Cease Radio Operations Due to Financial Losses

New Delhi, Jan 9 (NationPress) Media organization TV Today Network Ltd. revealed on Thursday that its Board of Directors has sanctioned a plan to discontinue the unprofitable FM Radio Broadcasting activities of the company, which consists of three FM radio stations in Mumbai, Delhi, and Kolkata operating under the frequency 104.8 FM.

The radio division, which reported a loss of Rs 19.53 crore for the fiscal year ending March 2024, is set to be shut down within a timeframe of one to six months, as per the company's statement.

“In accordance with the relevant provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), particularly Regulation 30, we are notifying that the Board of Directors of T.V. Today Network Limited, during their meeting on January 09, 2025, has approved the cessation of the FM Radio Broadcasting operations of the Company (which includes three FM radio stations in Mumbai, Delhi, and Kolkata under the frequency 104.8 FM), pending any necessary regulatory approvals and compliance requirements. The radio operations are expected to conclude in approximately one to six months,” stated TV Today in a regulatory announcement.

Describing the rationale behind the closure, TV Today expressed, "Considering the current industry landscape, its dynamics, and the evolution of the FM Radio Broadcasting sector, the Board of Directors deemed it more advantageous for the Company to terminate this business rather than continue its operations."

The revenue from the Radio Business for FY 2023-24 was Rs 16.18 crore, which accounted for about 1.70 percent of the overall turnover of TV Today Network for that fiscal year. The loss attributed to the Radio Business was reported as Rs 19.53 crore for FY24, according to the company's filing.

Ishq 104.8 FM, which previously operated as Meow FM and OYE FM, is a romantic music radio channel broadcasting in Delhi, Mumbai, and Kolkata. Initially introduced as Meow FM, the channel was a talk-oriented station primarily aimed at a female audience.

On Thursday, TV Today Network Ltd.'s shares were trading at Rs 218.05 on the BSE.