TV Today Network has put its FM radio business on the block.
In a BSE filing, the company said, “The board has approved the sale of Radio FM business and further authorised a Committee of Directors/senior officials to negotiate the terms and conditions with potential buyers and execute the sale, subject to requisite statutory and regulatory approvals.”
It operates radio stations under the brand Oye 104.8 FM in Delhi, Kolkata, Amritsar, Jodhpur, Patiala and Mumbai.
In 2006 , Living Media, promoter of TV Today Network, had sold the FM radio business under brand Red FM to a consortium of investors and later Kalanithi Maran’s Sun Network bought a stake in the company. The Ministry of Information and Broadcasting is gearing up for FM Radio Phase III auction in 69 cities.