Introduction
TV Today Network has announced the closure of its FM radio business, Ishq 104.8 FM, marking the end of an era for its radio operations. The decision, approved by the company’s board, comes as a response to evolving market dynamics and shifting industry trends. This move will see the shutdown of its FM stations in Mumbai, Delhi, and Kolkata within the next six months.
Key Highlights of the Announcement
- Regulatory Filing Confirmation: TV Today Network confirmed the closure in a regulatory filing on Thursday, stating that the board approved the shutdown on January 9, 2025.
- Current Operations: The company operates three FM stations in Mumbai, Delhi, and Kolkata, broadcasting on the 104.8 FM frequency.
- Revenue Contribution: The radio division contributed 1.7% of the company’s total revenue in FY24.
Financial Performance of the Radio Division
In FY24, the radio division reported a turnover of Rs 16.18 crore but incurred a significant loss of Rs 19.53 crore. This financial performance highlights the challenges faced by the FM radio business in a rapidly changing media landscape.
TV Today Network has announced it will shut down its FM radio business, Ishq 104.8 FM, within the next six months, citing shifts in market dynamics.
In a regulatory filing on Thursday, the company confirmed that its board had approved the closure of the radio division.
Currently, TV Today operates three FM stations in Mumbai, Delhi, and Kolkata, broadcasting on the 104.8 FM frequency. The radio business accounted for 1.7% of the company’s revenue in FY24.
“The Board of Directors of TV Today Network Limited, in a meeting held on January 9, 2025, approved the shutdown of the FM radio operations, subject to necessary regulatory approvals and compliance,” the company stated.
The decision comes as the company pointed to the changing landscape of the FM radio industry, stating that exiting the business was in the company’s best interest.
In FY24, the radio division of TV Today Network reported a turnover of Rs 16.18 crore but posted a loss of Rs 19.53 crore.
Conclusion
The shutdown of Ishq 104.8 FM marks a significant shift for TV Today Network as it navigates the changing media landscape. While the decision reflects the challenges of the FM radio industry, it also underscores the company’s commitment to strategic realignment and long-term growth.