On 24 August 2016
T.V. Today Network (TVTN) announced that the Company has entered into an Advertising Sales Agreement (ASA) with Entertainment Network (India) (ENIL) on 24 August 2016, effective from 1 September, 2016, duly approved by the Board of TVTN through circulation on 24 August, 2016 in relation to TVTN's 3 (three) private FM radio stations at New Delhi, Mumbai and Kolkata.Pursuant to the ASA, TVTN has agreed to appoint ENIL as an agent of TVTN to facilitate the sale of TVTN's airtime to third-parties who wish to advertise using TVTN's airtime.
ENIL is not related to promoter/promoter group/ group companies in any manner, the transaction with ENIL would not fall within the purview of related party transactions, no shares are issued to any of the parties pursuant to the agreement, TVTN does not hold any shares in ENIL. No potential conflict of interest arises out of such agreement. No nominees are appointed on the Board of TVTN pursuant to this agreement.
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