T.V. Today Network Ltd has taken a significant step toward exiting its FM radio operations, with the company’s Special Committee of Directors approving a proposal to sell its radio business to Abhijit Realtors and Infraventures Private Limited.

The decision was finalised at a committee meeting held on 25 November 2025 and disclosed in a regulatory filing submitted under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.

According to the BSE exchange note, the proposed deal covers the complete sale and transfer of T.V. Today’s FM radio broadcasting operations including its stations in Mumbai, Delhi and Kolkata, all operating under the 104.8 FM frequency.

The business will be sold as a going concern through Vibgyor Broadcasting Private Limited, the company’s wholly owned subsidiary. The transaction remains subject to mutually agreed contractual terms and mandatory approvals from the Ministry of Information and Broadcasting and other regulatory bodies.

The FM radio division, which contributed Rs.14.16 crore to the company’s revenue in FY 2024–25, accounted for 1.41 percent of its total turnover. Despite its presence across three major metros, the segment posted a net loss of Rs.10.54 crore during the year, strengthening the company’s rationale to exit the business and focus more sharply on its core operations.

Under the commercial terms outlined in the filing, Abhijit Realtors will pay a total consideration of Rs.10 crore plus applicable taxes. Of this, Rs.5 crore will be paid at the time of signing the memorandum of understanding, while the remaining Rs.5 crore will be due within three months of the signing date. The sale is expected to be completed on or before 31 May 2026, with provision for an extension should both parties mutually agree.

Abhijit Realtors, incorporated in 2007, operates across real estate, radio and entertainment verticals. The company is not part of T.V. Today’s promoter group.

While the sale to the buyer is not classified as a related-party transaction, the internal transfer of the radio business to Vibgyor Broadcasting Private Limited does fall under that category. T.V. Today has clarified that the transfer will be carried out on an arm’s-length basis, fully compliant with SEBI norms.

The company emphasised that the proposed transaction aligns with its strategic decision to sharpen focus on high-priority business segments and streamline operations. It also confirmed that the deal will have no impact on its shareholding pattern.

With the signing of the MOU, T.V. Today Network has formally begun the process of exiting the FM radio space, marking a notable shift in its portfolio strategy.