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
Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
