To purchase four radio stations from TV Today Network
Entertainment Network (India) announced that the Company has executed on 11 September 2015, a Business Transfer Agreement ('BTA') with TV Today Network (TVTN) to purchase four radio stations i.e. radio business in Amritsar, Jodhpur, Patiala and Shimla on the terms and conditions stipulated in the BTA.The purchase consideration shall be Rs 4 crore subject to closing net working capital adjustments as defined more specifically in the BTA. In addition, the Company shall pay migration fees to the Ministry of Information & Broadcasting for migration of the aforesaid four stations from Phase II to Phase III.
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