Entertainment Network (India) (ENIL) has entered into a non-binding memorandum of understanding (MOU) with TV Today Network (TVTNL), for the proposed acquisition of the Radio Business of TVTNL, comprising of 3 radio stations in New Delhi, Mumbai and Kolkata currently operated under the frequency 104.8 FM and ISHQ 104.8 FM brand name, as a going concern (by way of a slump sale).
The Committee of Directors of the board at a meeting held on March 16, 2018 took the note of it. The Committee noted that the Proposed Transaction will be consummated subject to confirmatory diligence, execution of definitive agreements between ENIL and TVTNL; receipt of all necessary regulatory approvals, including the approval of the MIB, permissions, sanctions as may be necessary.
ENIL is one of the leading entertainment and Media Company. The company operates in three segments: radio broadcasting segment, out-of-home media segment and experiential marketing segment. Radio broadcasting segment operates under the brand Radio Mirchi.
