TV Today Network says its radio business 104.8 FM to shut in 6 months

Media house TV Today Network on Thursday announced that it will shut down its radio business, operated under the brand name Ishq 104.8 FM, in the next six months, citing current market dynamics.

The board of the company in a meeting held on Thursday approved the proposal for the closure of the FM radio business, according to a regulatory filing by TV Today Network Ltd.

TV Today Network currently operates three FM radio stations in Mumbai, Delhi and Kolkata under the frequency 104.8 FM, which contributed 1.7% of its revenue in FY24.

"The Board of Directors of TV Today Network Limited at their meeting held today, i.e., January 09, 2025, has inter alia approved the closure of FM Radio Broadcasting operations of the Company subject to regulatory approvals, if any, and fulfilment of other compliances as may be required," it said.

The radio business is expected to be closed in nearly one to six months, TV Today Network added further.

While citing the reason for closure, the private news channel broadcaster said: "Given the state of the industry, its dynamics and evolution of FM Radio Broadcasting business, the Board of Directors considered it in the better interest of the Company to close this business instead of continuing the same."

The radio business turnover was at ₹16.18 crore and registered a loss of ₹19.53 crore in the financial year ended March 2024.

Shares of TV Today Network Ltd on Thursday were trading at ₹218.05 per scrip on BSE, up 4.36% from the previous close.