The planned sale of TV Today Network’s FM radio business has collapsed, with the broadcaster formally terminating its agreements with Creative Channel Advertising and Marketing Private Limited (CCAMPL).

In a BSE note, TV Today Network, part of the India Today Group, disclosed that CCAMPL had expressed its inability to continue with the arrangements. The company said CCAMPL, through an email dated September 9, 2025, withdrew from both the Memorandum of Understanding (MoU) for the sale of its FM radio operations and an Advertising Sales Agreement for airtime sales. “As a result, the aforesaid agreements stand terminated,” TV Today stated, adding that investors had already been kept informed through earlier disclosures in February and March 2025.

The agreements related to TV Today’s Ishq FM operations, covering three stations in Mumbai, Delhi, and Kolkata under the 104.8 FM frequency. The deal, valued at Rs.20 crore excluding taxes, was structured in two tranches, with half the payment due at signing and the balance upon completion of regulatory approvals. CCAMPL was also to act as a sales agent for airtime marketing under a parallel advertising agreement. The transaction had been expected to close by January 31, 2026.

TV Today had previously confirmed progress on restructuring its radio business. On April 8, 2025, the company applied to the Ministry of Information & Broadcasting (MIB) to transfer its FM operations to Vibgyor Broadcasting Private Limited, a wholly owned subsidiary. The MIB cleared the proposal on August 20, paving the way for Vibgyor to take over.

The decision to exit radio was first taken at a Board meeting on January 9, 2025, amid growing challenges in the FM broadcasting sector. After inviting expressions of interest, the company secured approval for the sale on February 11. The Special Committee of Directors subsequently cleared the MoU with CCAMPL on February 25, 2025.

With CCAMPL pulling out, the broadcaster will now have to revisit its strategy for Ishq FM’s future, even as Vibgyor prepares to assume control of the operations.