Radio Mirchi to acquire TV Today’sradio biz

[Dinesh jain]

Entertainment Network India Ltd
(ENIL), which owns Radio Mirchi FM channel,
has agreed to buy out TV Today Network’s radio
business.

Both the companies have entered into an
agreement to this effect. TV Today Network
owns and operates FM radio station OYE! 104.8.
“The committee of senior officials at a meeting
held on February 13, 2015, noted that the
company had entered into a non-binding
memorandum of understanding with
Entertainment Network (India) Limited, in relation
to the proposed sale of seven radio stations to
Entertainment Network (India) Ltd,” TV Today
Network said.

The deal is subject to fulfilment of the
contractual obligations (which may be agreed
between the parties) and receipt of all necessary
regulatory approvals including permissions from
the Ministry of Information and Broadcasting,
Government of India.

This is the second major deal in FM radio
broadcasting ahead of the FM Phase III
auctions. In December last year, print media
major Jagran Prakashan (JPL) had acquired
Music Broadcast, which operates Radio City FM
stations.
Radio Mirchi to acquire TV Today's radio biz | TelevisionPost.com