ENIL up 17% on I&B nod to buy 4 radio stations of TV Today

"ENIL has received the MIB's approval to purchase TV Today's four radio stations i.e. radio business in Amritsar, Jodhpur, Patiala and Shimla," said the company in its filing.

July 22, 2015 / 16:42 IST

26 Aug, 2025 12:21

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Moneycontrol Bureau

Shares of Entertainment Network India (ENIL) rallied nearly 17 percent intraday to touch a life high of Rs 849 Wednesday. The operator of Radio Mirchi FM channel has received approval from information and broadcasting ministry (MIB) for buying 4 radio stations of TV Today Network, which owns 104.8 FM Oye.

"ENIL has received the MIB's approval to purchase TV Today's four radio stations i.e. radio business in Amritsar, Jodhpur, Patiala and Shimla," said the company in its filing.

The transaction will be subject to fulfilment of conditions specified by the MIB, execution of relevant documents with TV Today and completion of all other relevant formalities, it added.

The company had signed the non-binding memorandum of understanding with TV Today Network for the purchase of seven radio stations. However, on February 13, 2015 & May 08, 2015, the MIB had declined its approval on the grounds that the proposed sale by TV Today and proposed purchase by the company is not in conformity with the FM Radio Guidelines.