The TV Today Network has decided to shut its radio business. The decision was reportedly taken at a board meeting on Thursday. The network has three radio stations in Delhi, Mumbai and Kolkata under the frequency of 104.8 FM.
“Given the state of industry, its dynamics and evolution of FM radio broadcasting business, the board of directors considered it in better interest of the company to close this business instead of continuing the same,” the company told the stock exchanges.
The company’s radio business is expected to be shut within six months, the company said. The turnover of the radio business was 1.7 percent of TV Today Network’s total turnover in the last financial year. The radio business also clocked a loss of Rs 19.5 crore the same financial year.
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