Union I&B Ministry approved ENIL proposal to purchase TV Today Network’s Oye FM

Jul 23, 2015 17:39 IST

The Entertainment Network (India) Ltd (ENIL) on 22 July 2015 received the approval from the Union Information & Broadcasting (I&B) Ministry to purchase 104.8 FM Oye FM radio station of TV Today Network (TVTN) that runs in four cities Amritsar, Jodhpur, Patiala and Shimla.

The purchase will be subjected to the fulfilment of conditions specified by I&B Ministry that is execution of relevant documents with TVTN and completion of all other relevant formalities.

Background
Earlier, ENIL had signed the non-binding Memorandum of Understanding (MoU) with TV Today Network to purchase seven radio stations.

However, on 13 February 2015 and on 8 May 2015, I&B Ministry declined its approval on the grounds that the proposed sale by TVTN and proposed purchase by ENIL is not in conformity with the FM Radio Guidelines.

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