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MUMBAI: TV Today Network Ltd. is considering taking controlling interest in group firm Radio Today Broadcasting, a source in the company says.
TV Today, a listed company which runs a slew of news television channels including Aaj Tak and Headlines Today, currently holds a 10 per cent stake in Radio Today.
The move of hiking the stake is, however, subject to regulatory approvals. “We are exploring the option of taking control of the group company`s radio business. This will synergise with our TV business and we can add value to the company. We may even decide to merge it,” says the source.
But will private FM regulations not be a roadblock? “We believe that transfer of majority shareholding is allowed within the group. Besides, TV Today is an existing shareholder in the group`s radio company,” says the source.
Radio Today has already launched in Delhi under the Meow brand and is positioned as a women`s station with only talk format shows. The Living Media group company has won licenses paying a fee of Rs 280 million to operate in seven stations in the second phase of FM expansion after selling Red FM to a clutch of investors comprising infotech company Value Labs, Malaysia-based Astro and NDTV. Red FM was operating in the circles of Delhi, Mumbai and Kolkata.
Living Media Group is also planning to move all its digital assets into a separate company. “We will be pooling all our digital rights into a separate entity. The different media companies of the group who will be transferring their digital assets, will hold stake in this entity. Their shareholding will be in proportion to the valuations they get,” says the source.
