MUMBAI: In a deal that’s more location than storyline, TV Today Network has greenlit a blockbuster acquisition not of a production house with a hit filmography, but of a shell company sitting on prime land. At its board meeting on 25 July, the India Today Group-owned broadcaster approved the Rs 200 crore acquisition of Romesh Films Private Limited, a company with zero revenue, a modest net worth of Rs 5.93 crore, and one marquee asset: an immovable property in Noida. The company posted a profit after tax of Rs 2.82 crore in FY25 despite no turnover, a neat little plot twist that reflects its sole function as a property holder.
Rather than purchase the property outright, TV Today has opted to buy 100 per cent equity 4,65,010 shares of face value Rs 100 each of Romesh Films from existing shareholders. The deal excludes any net assets other than the land and building and is subject to due diligence, stamp duty, registration charges, and other transfer-related costs.
Once completed, Romesh Films will become a wholly owned subsidiary of TV Today Network. The company says the acquisition will aid operational convenience and support long-term expansion, given its proximity to the group’s corporate office in Noida.
TV Today Network reported revenue from operations of Rs 197.19 crore for the quarter ended June 2025, navigating a quarter of industry-wide recalibration following last year’s election-related ad spike. Profit from continuing operations stood at Rs 7.39 crore, while the company posted a net profit of Rs 7.35 crore for the period, reflecting a stable performance in a non-election cycle.
The radio business now treated as a discontinued operation dragged further, reporting a loss before tax of Rs 0.05 crore, contributing to a cumulative drag of Rs 7.89 crore for FY25.
But the company isn’t tuning out yet. In February, it signed an MoU to sell its three radio stations in Delhi, Mumbai and Kolkata (104.8 FM) for Rs 20 crore. The transaction, pending MIB approvals, will be routed through its wholly owned subsidiary, Vibgyor Broadcasting.
The net result? A strategic shift from frequencies to fixed assets, with an eye on solid ground even if it comes with no script.
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