Entertainment Network (India) Ltd - 532700 - TVTN Updates
We refer to our intimation dated March 16, 2018 regarding execution of a non-binding memorandum of understanding with TV Today Network Limited ('TVTNL'), for the proposed acquisition of the Radio Business of TVTNL, comprising of 3 (three) radio stations in New Delhi, Mumbai and Kolkata as a going concern (by way of a slump sale) ('Proposed Transaction'). Proposed Transaction was to be consummated subject to confirmatory diligence, execution of definitive agreements on terms and conditions to be mutually agreed between ENIL and TVTNL; . Accordingly, there was no certainty that the Proposed Transaction would be consummated. At the Board Meeting of TVTNL held on May 28, 2021, TVTNL decided to withdraw the aforesaid application filed by TVTNL with the Ministry of Information and Broadcasting, The Board of Directors of the Company, at their meeting held on June 15, 2021, noted the same and consequently, Proposed Transaction with TVTNL stands terminated.15-06-2021