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| Exchange Disseminated Time | | With reference to the earlier announcement dated February 13, 2015 regarding the non-binding memorandum of understanding with TV Today Network Limited (TVTN) for the proposed purchase of seven radio stations from TVTN. The proposed purchase was subject to relevant regulatory approval(s), Entertainment Network (India) Ltd has now informed BSE that the Ministry of Information and Broadcasting (MIB), Government of India, vide their letter dated May 01, 2015, which was received by the Company on May 08, 2015, has declined its approval on the grounds that the proposed sale by TVTN and proposed purchase by the Company is not in conformity with the FM Radio Guidelines. However, both the Company and TVTN have decided to appeal against the MIB decision. |
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