The planned sale of TV Today Network’s FM radio business has collapsed after Creative Channel Advertising and Marketing Pvt. Ltd. (CCAMPL) withdrew from the agreement. The India Today Group-owned broadcaster has formally terminated its sale and advertising agreements with CCAMPL, ending a ₹20 crore deal that aimed to offload its Ishq FM operations in Mumbai, Delhi, and Kolkata.
The termination was confirmed via a regulatory filing to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). According to the filing, CCAMPL issued a formal email on September 9, 2025, citing its inability to proceed with the proposed transaction. As a result, both the Memorandum of Understanding (MoU) and an Advertising Sales Agreement have been dissolved.
The MoU, signed earlier in 2025, was part of a broader strategy by TV Today to exit the FM broadcasting sector, following a Board resolution dated January 9, 2025. The deal was valued at ₹20 crore and was structured for completion in two tranches—₹10 crore at the time of signing and ₹10 crore upon deal closure, subject to regulatory clearances. CCAMPL was also engaged to act as an advertising sales agent for the FM stations, with professional fees attached.
TV Today had already received approval from the Ministry of Information & Broadcasting (MIB) to transfer its FM operations to its wholly owned subsidiary, Vibgyor Broadcasting Private Limited. The approval, issued on August 20, 2025, covered three Ishq FM stations broadcasting at 104.8 FM across Delhi, Mumbai, and Kolkata.
The company had earlier updated investors through multiple disclosures, noting progress and anticipated timelines. The transaction was expected to be completed by January 31, 2026, making CCAMPL’s sudden withdrawal a major disruption in the strategic shift away from FM radio.
The collapse of the deal underscores ongoing challenges in the FM radio industry, where revenues have come under pressure due to shifts in digital media consumption, advertising declines, and increased operating costs. For now, TV Today Network retains its radio assets under the Vibgyor brand, and its next steps in divesting or reimagining the business remain uncertain.
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