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Our Bureau

New Delhi, June1

TV Today on Friday said that it proposed to acquire the group's radio business after obtaining requisite approvals. " We also propose that the digital intellectual property held by TV Today and its holding company, Living Media India Ltd was to be assigned/transferred to a separate joint venture, in which shares would be held by both TV today and Living Media in proportion of the property valuation done by an independent valuer- it would be as a separate fully convergent digital business," said Mr Aroon Purie, Chairman and Managing Director, TV Today, in a statement here.

The company also reported its annual results for the financial year. It posted a net profit of Rs 31.09 crore, a 12 per cent increase over last year. Its net sales stood at Rs 202.44 crore, a rise of 20 per cent over Rs 167.89 crore last fiscal. TV Today declared a dividend of 15 per cent on equity shares of face value of Rs 5 each.

More Stories on : Mergers & Acquisitions | Radio/TV

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