The proposed sale of Ishq FM has officially fallen through as TV Today Network has terminated its deal with CCAMPL. The company’s board has decided to close its entire FM radio broadcasting operations, which operate under the 104.8 FM frequency. This move, which will see the stations in Mumbai, Delhi, and Kolkata shut down, is a strategic decision to exit a business that has proven to be financially challenging.
In a regulatory filing, TV Today Network cited the “state of the industry, its dynamics, and evolution” as the primary reasons for the decision. The FM radio business, while generating a turnover of ₹16.18 crore in the fiscal year 2023-24, also reported a significant net loss of ₹19.53 crore during the same period. The company concluded that continuing the business was no longer in its best interest.
This development effectively ends any speculation about a potential sale or restructuring of the radio network, as the company has committed to winding down its radio operations within the next one to six months. The decision signals a larger trend in the traditional media landscape, where established players are re-evaluating their portfolios in a rapidly changing market environment.
Key Highlights:
- Sale Termination: TV Today Network has terminated its deal with CCAMPL for the sale of Ishq FM.
- Business Closure: Instead of selling, the company has decided to completely shut down its FM radio broadcasting operations in Delhi, Mumbai, and Kolkata.
- Financial Reasons: The decision was made after the radio business reported a net loss of ₹19.53 crore in the last financial year.
- Strategic Shift: The move reflects TV Today Network’s decision to exit an unprofitable business segment and focus on other, more sustainable ventures.