MAM
TV Today Network to sell radio operations whilst engaging Creative Channel as sales agent
MUMBAI: TV Today Network Limited, part of the India Today Group, has entered into a memorandum of understanding with Creative Channel Advertising and Marketing for the proposed sale of its FM radio broadcasting operations whilst simultaneously appointing the firm as its advertising sales agent. TV Today made this declaration through a regulatory filing with the Bombay stock exchange a short while ago.
The Rs 20 crore deal involves three FM radio stations broadcasting on the 104.8 frequency in Mumbai, Delhi and Kolkata. The transaction structure includes an initial payment of Rs. 10 crore upon MoU execution, with the remaining amount due at closing, subject to regulatory approvals from the ministry of information & broadcasting.
During the transition period, Creative Channel will serve as TV Today’s advertising sales agent, leveraging its expertise to sell airtime to governmental bodies and corporate clients. The arrangement is intended to bolster advertising revenue for the radio business, which reported losses despite generating Rs 16.18 crore turnover in FY 2023-24 — representing merely 1.7 per cent of TV Today Network’s total revenue.
The board of directors had initially resolved on 9 January to shutter the radio division entirely before receiving interest from potential buyers. The subsequent approval for sale came during their 11 February meeting.
TV Today may execute the transaction either directly or through its wholly owned subsidiary, Vibgyor Broadcasting. The latter approach would constitute a related party transaction, though conducted on an arm’s length basis.
Creative Channel, established in 1991 with Rs 5.23 crore paid-up capital, specialises in television broadcasting, advertising and programming. The company has no connection to TV Today’s promoter group.
The transaction is expected to conclude by 31 January 2026, marking TV Today’s strategic exit from the challenging FM radio sector amidst evolving industry dynamics.
Brands
Primus Partners appoints Akasa Air co-founder Neelu Khatri as independent director
Veteran aviation and defence professional joins as independent director
NEW DELHI: Primus Partners has appointed Neelu Khatri, a founding member of Akasa Air, as an independent director, strengthening the consulting firm’s board as it prepares for its next phase of growth.
Khatri brings more than three decades of experience across defence, aviation, aerospace technology and consulting. She was part of the core team that helped build Akasa Air from concept to launch, contributing to what has been widely described as one of the fastest airline scale ups in recent aviation history.
At Primus Partners, she will provide strategic guidance on corporate governance and help steer the firm’s long term growth plans. Her experience of building a start up into a full scale organisation is expected to support the consulting firm as it expands its footprint.
Primus Partners co-founder and chairperson Davinder Sandhu, said the appointment brings valuable expertise to the board. “Neelu’s journey across defence, aviation and consulting brings a rare blend of operational insight and strategic thinking. Her experience in rapidly scaling Akasa Air will be invaluable as we continue to grow while maintaining a strong focus on corporate governance,” he said.
Primus Partners, an India headquartered management consulting and solutions firm, has emphasised governance and board oversight since its early days. The company has also taken an unconventional approach by inviting its Gen Z employees to attend board meetings so that younger perspectives can contribute to discussions.
Speaking on her appointment, Khatri said the consulting sector is entering a transformative period shaped by emerging technologies. “The industry is evolving rapidly with the rise of AI. This is an exciting moment for an Indian origin consulting firm like Primus Partners to expand its product offerings and strengthen its presence globally,” she said.
She added that as the firm pursues ambitious expansion plans, her focus will be on ensuring strong governance frameworks and effective risk management as the organisation scales.
