Entertainment Network India (ENIL) has entered into a non-binding memorandum of understanding with TV Today Network in relation of the acquisition of Oye FM. ENIL will purchase all seven channels under the TV Today Network banner.
ENIL currently operates 'Radio Mirchi' in the radio industry.
The sale is subject to fulfillment of the contractual obligations (which may be agreed between the parties) and receipt of all necessary regulatory approvals including permissions from the Ministry of Information and Broadcasting, Government of India, informed a statement from TV Today.
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