About
T.V. Today Network Ltd
TV Today Network Ltd is an India-based company engaged in broadcasting television news channels, radio stations and newspaper publishing in India. The company is a part of India Today Group and operates a network of TV news channel. The company comprises four news channels, namely Aaj Tak, Headlines Today, Tez and Dilli Aaj Tak. They are first Indian broadcasters to uplink from India, a 24-hour Hindu News Channel. The company is having one subsidiary, namely TV Today Network (Business) Ltd. As at March 31, 2019, the Company has 4 (four) subsidiary companies namely, T.V. Today Network (Business) Limited, India Today Online Private Limited, Mail Today Newspapers Private Limited and Vibgyor Broadcasting Private Limited.
TV Today Network Ltd was incorporated on December 28, 1999 and received the certificate for commencement of business on February 7, 2000. On April 20, 2000, the company executed a Business Transfer Agreement with Living Media, in which news-broadcasting business of Living Media was transferred to TV Today.
In the same year, the company launched Aaj Tak, a 24-hour news channel providing Hindi News. This channel was declared the Best News Channel by Indian Television Academy Awards in 2001, 2002 and 2003. In March 2003, they launched the English News Channel, Headlines Today.
During the year 2003-04, the company raised capital from the public aggregating to Rs 950,000,000 by fresh issue of 10,000,000 equity shares of Rs 5 each at a premium of Rs 90 per share. In August 2005, the company launched a new 24x7 Hindi News channel, namely Tez. Also, they incorporated a wholly owned subsidiary company, namely TV Today Network (Business) Ltd with an initial investment of Rs 1.5 million. During the year, the company successfully launched their channels Aaj Tak & Headlines Today in USA through strategic tie-up with Echostar LLC, USA.
In May 2006, the company launched a metro centric 24x7 Hindi news channel, namely Dilli Aaj Tak to cater to Delhi and NCR viewers. Since November 2007, all the four channel of the company converted to pay channels. The three channels, namely Aaj Tak, Headlines Today and Tez are on the platform of MSM Discovery (formerly Set Discovery Pvt. Ltd) and Dilli Aaj Tak is on the platform of Today Network India Pvt. Ltd.
Radio Today Broadcasting Ltd, a fellow subsidiary company merged with the company with effect from April 1, 2007. During the year, the company launched their Hindi News Channel Aaj Tak in Europe and the UK.
During the year 2015, the company received a guarantee from its holding company, Living Media India Limited, for indemnifying any loss to the Company arising from sale of the said investment.
The Board on February 6, 2015 approved the sale of Radio FM Business (seven radio stations) of the Company subject to regulatory approvals, to negotiate and execute requisite documents with potential buyers. In furtherance to the aforesaid, a non-binding memorandum of understanding (MoU) was signed with Entertainment Network (India) Limited (ENIL). On February 16, 2015, an application was filed with the Ministry of Information and Broadcasting (MIB) seeking its approval for the sale of Radio FM Business to ENIL. Since there was no response from the MIB on the application filed by the Company, the Company filed a writ petition in the Delhi High Court to expedite the matter. On April 20, 2015, the Court directed the MIB to decide the Company's application within two weeks. MIB by its order dated May 1, 2015 denied approval to the sale of Radio FM Business on the ground that proposed sale is not in conformity with FM Radio Guidelines. In Committee's meeting on May 8, 2015, the Committee took note of the MIB order dated May 1, 2015 approved the amendment of the MOU and agreed to consider other possible options along with ENIL. The Committee further challenged the above-referred MIB order with the Delhi High Court. Thereafter on the basis of representation filed by the Company with MIB, it conveyed its approval for sale of FM Radio Stations in Amritsar, Jodhpur, Patiala and Shimla vide its letter dated 20th July 2015 and thereafter the Company sold the aforesaid four radio station to ENIL vide Business Transfer Agreement dated September 11, 2015. The sale of Radio Stations at Delhi, Mumbai and Kolkata was not approved by MIB since it was stated by MIB that the sale of these stations was not in conformity with the FM Radio Guidelines, the matter is pending with the Hon'ble High Court.During FY 2015-16, the Company had given corporate guarantee amounting to Rs. 3 Crores in connection with the loan to BARC (Broadcast Audience Research Council of India) by Yes Bank Limited, which is within the limits of Section 186 of the Companies Act, 2013.
During the year 2017, the Company acquired 100% of the paid- up Equity share capital of India Today Online Private Limited' from Living Media India Limited by way of gift (i.e. without any consideration). Accordingly, India Today Online Private Limited became wholly owned subsidiary of the Company.
Further, the Company had during the year 2017, also acquired 25.21% of the total paid-up Equity share capital of Mail Today Newspapers Private Limited' by way of gift (i.e. without any consideration) from A.N. (Mauritius) Limited. Consequent upon the said acquisition, the Company along with its wholly owned Subsidiary Company, India Today Online Private Limited, holds 100 % of the paid-up share capital of Mail Today Newspapers Private Limited'. With this, Mail Today Newspapers Private Limited became a subsidiary of the Company in which the Company along with its wholly owned subsidiary holds 100% the paid-up share capital.
During the year 2018, the Company had acquired 100% of the paid-up Equity share capital of Vibgyor Broadcasting Private Limited'. Accordingly, Vibgyor Broadcasting Private Limited became wholly owned subsidiary of the Company.
During the year 2018, the Company invested an amount of Rs. 4,05,17,002/- in the Equity Shares of Mail Today Newspapers Private Limited.
During the year 2018, the Company entered into a Business Transfer Agreement with Living Media India Limited (LMIL) (Holding Company) effective from January 01, 2018 for acquisition of operations of Digital Business as a going concern on slump sale basis. Further, the Company also entered into License Agreement with LMIL effective from January 1, 2018, giving rights of LMIL's digital IPR's to the Company on payment of royalty.During the year 2018, the Board of Directors on the basis of the recommendations of the Audit Committee and subject to approval of the Shareholders, Creditors and other concerned authorities, approved Composite Scheme of Arrangement and Amalgamation of Mail Today Newspapers Private Ltd and India Today Online Private Ltd (ITOPL) with the Company and their respective shareholders and creditors at their meeting held on December 15, 2017. The Scheme provides for demerger of newspaper undertaking of Mail Today and its vesting into with the Company. It provides for merger of ITOPL with the Company. The Scheme also provides for reduction of share capital of Mail Today and ITOPL. The Company had filed the first motion application to National Company Law Tribunal (NCLT) on April 27, 2018. Further, as per NCLT Order dated July 2, 2018 read with Order dated July 9, 2018, the meetings of Equity Shareholders, Secured Creditors and Unsecured Creditors were held on September 08, 2018. The Equity Shareholders, Secured Creditors and Unsecured Creditors approved the Scheme with requisite majority. The Company had filed the second motion petition with NCLT. Further, the Company had also submitted reply to the requisition letters received from Regional Director, Ministry of Corporate Affairs and Official Liquidator on the Scheme. The matter is currently pending before the NCLT.The Board of Directors in its meeting held on March 16, 2018, granted in principle approval for the sale of the Radio Business of the Company to Entertainment Network India Limited (ENIL) as a going concern, by way of slump sale subject to approval of Ministry of Information & Broadcasting (MIB) and members of the Company. Accordingly, the Company had filed an application dated March 27, 2018 with MIB for seeking approval for proposed sale of Radio Business to ENIL. The approval of the same is awaited from MIB. Further, in order to have better focused management for Radio Business, subject to approval of shareholders and MIB, the Board has granted in-principle approval to segregate the Radio Business by transferring it to Vibgyor Broadcasting Private Limited, a wholly owned subsidiary of the Company. Accordingly, it has been decided to withdraw the aforesaid application from MIB.
In 2018, 47 new radio stations were operationalized across 35 cities, taking the total of 386 radio stations in India.
T.V. Today Network Ltd
Chairman Speech
Dear Shareholders,
THE CENTRAL THEME for this year's India Today Conclave was "The India
Moment". It was not a hyper-nationalistic or pompous slogan but rather a
well-thought-out assessment of our country's opportunities to explore its potential in a
fluid global order. In the year that we celebrated the 75th year of Independence — Azadi
ka Amrit Mahotsav — and Droupadi Murmu became the first tribal President of the
country, India also assumed the presidency of the G20 forum. As the world's largest
democracy and the fastest-growing large economy, our country is best suited to propagate
the ancient mantra of Vasudhaiva Kutumbakam, which means that the whole world is
one single family, particularly at a time when we are witnessing an ongoing war and the
world is still recovering from the devastating effects of a global pandemic. India
demonstrated her resilience, fighting back against COVID-19 and navigating its way through
a disruption in the global supply chain, further damaged by the Russia-Ukraine war.
With India's gross domestic product (GDP) touching the $3.75 trillion mark in 2023, we
are now the fifth- largest economy in the world, after China, the United States, Germany
and Japan. In FY23, India achieved a 7.2 per cent growth in GDP, which is higher than
several major economies such as the US, China and the UK. However, there have been areas
of concern, like persistent inflation, which is only now showing signs of easing. Amid the
global meltdown, massive layoffs have taken place in tech giants such as Google, Meta,
Twitter and Amazon. Homegrown companies, including Byju's, Swiggy and Zomato, also
reported job cuts.
Furthermore, the emergence of Artificial Intelligence portends disruption — both
good and bad. Smart AI tools such as ChatGPT are adding unprecedented efficiency to our
regular, mundane tasks but are also threatening to make human resources redundant. While a
recent report by Goldman Sachs predicts that generative AI could raise global GDP by seven
per cent, it has also eliminated nearly 4,000 jobs in the US, accounting for almost five
per cent of the total job cuts. While this may be bad news in the short term, technology,
which is continually evolving, has its way of offering radical growth opportunities to
mankind.
The challenge is to ideate, innovate and re-skill to make the most use of new
technological evolution. India is already a global player in building digital
infrastructure. That our country leads the world in real-time digital payments is no mean
achievement.
India's M&E sector grew 20 per cent in 2022 to reach Rs.2.1 lakh crore, 10 per cent
above its pre-pandemic level in 2019. The M&E sector is expected to continue growing
at a rate of 11.5 per cent in 2023, reaching Rs.2.34 lakh crore and with a compound annual
growth rate (CAGR) of 10 per cent, to reach Rs.2.83 lakh crore by 2025.
India's share of spend on M&E as a percentage of GDP has increased by 10 bps in the
last five years. However, there is significant headroom for accelerated growth in
comparison to global benchmarks given the increased investments, robust demand, favourable
policies and attractive opportunities.
Although television remains the largest segment, digital media has become a strong
number two and print has seen a resurgence. The filmed entertainment segment also
recovered, overtaking online gaming to reclaim the fourth position.
The share of traditional media in the M&E sector's revenues decreased from 71 per
cent in 2019 to 58 per cent in 2022, while the digital media's share increased from 16 per
cent in 2019 to 27 per cent in 2022. All M&E segments, except for TV subscriptions,
grew in 2022. If data charges associated with digital consumption are included, the
digital media grew the most last year, contributing to 50 per cent of the total M&E
sector. Experiential segments, such as filmed entertainment and live events, also
recovered in 2022. Overall, traditional media contributed to half of the growth, while the
balance came from digital, online gaming and VFX segments.
With media consumption continuing to grow at an accelerated pace, more expansion is
expected in the future. In recent years, digital media consumption has seen the highest
rate of growth, outstripping all other forms of media. With increasing hybrid work culture
and improved internet connectivity, this trend has only intensified, as people are
increasingly turning to digital media to keep themselves entertained and informed. This is
what accounts for the unprecedented surge in digital media consumption. According to a
report published by IAMAI and Kantar Research, India's internet users are expected to
reach 900 million by 2025, from 622 million in 2020, increasing at a CAGR of 45 per cent.
One of the key drivers of digital media consumption has been the proliferation of
connected devices. Over the last five years, the penetration of connected devices has
grown by four to five times. This has made it easier for people to access digital content
on the go and also made it easier for them to stream content on their televisions. This
has led to a shift in viewership patterns, with more people turning to digital platforms
to watch their favourite shows and movies. Your company anticipated this trend, which is
validated by the success of our dedicated digital- first Tak channels and Connected
Devices feed.
Accuracy and credibility remain the absolute hallmarks of the content we create. Like
all years, 2022-23 also had its share of wins and losses, but what kept us ahead of our
competition was our ability to adapt to new challenges and innovate. Despite a
not-so-conducive market environment in the post-pandemic recovery period, we launched new
products and delivered strong financial results. This was possible because we never
compromise on the accuracy and relevance of the content we deliver to our end-users.
In the last year, the Company won over 140 awards across both platforms —
broadcast and digital. Our flagship Hindi channel Aaj Tak has crossed 56.2 million
subscribers on YouTube, the world's first and only news channel to achieve this feat.
India Today TV's YouTube channel touched seven million subscribers. These are reflections
of the ever-growing reach and trust of the viewers.
But the Company does not believe in resting on past laurels and always seeks to cross
new frontiers. Continuing the legacy of bringing together diverse and newer mediums of
storytelling, your Company introduced AI in the newsroom — the first time globally
— and launched a digital AI news anchor, Sana, who reads regular bulletins on digital
and broadcasts in multiple languages. She was introduced to our viewers at the India Today
Conclave held in March. While we run multiple digital platforms in different languages and
catering to distinct segments, the most recent and special has been the launch of India
Today NE, an English digital platform by the Company, exclusively dedicated to the eight
northeastern states of India. The northeast is not only one of India's most ethnically,
culturally and geographically diverse regions but also the least known and understood in
mainstream media.
From the latter half of the year, the news industry witnessed an unprecedented fall in
advertising volume due to adverse economic sentiments. This resulted in a five per cent
fall in the overall income of the Company during the year 2022-23 compared to the previous
year (2021-22).
Coupled with higher costs on account of the expansion on digital platforms, this
downfall in revenue resulted in a decline in profit before exceptional items and tax,
which stands at '130.03 crore. The operating profit margin stood at 14.19 per cent (on a
standalone basis). Considering our investments for the future and the external factors and
the industry's performance, the financial results of your Company are satisfactory.
I would like to take this moment to express my gratitude to the Board of Directors for
their guidance and support. I will always be grateful to our shareholders for their
continued trust in the Company and their support. Finally, on behalf of the Board and the
shareholders, I would want to congratulate every employee of the Company for their
unshakable dedication and enthusiasm towards making TV Today India's most trusted news
organisation.
Warm Regards,
Aroon Purie.
Chairman.
  Â
T.V. Today Network Ltd
Company History
TV Today Network Ltd is an India-based company engaged in broadcasting television news channels, radio stations and newspaper publishing in India. The company is a part of India Today Group and operates a network of TV news channel. The company comprises four news channels, namely Aaj Tak, Headlines Today, Tez and Dilli Aaj Tak. They are first Indian broadcasters to uplink from India, a 24-hour Hindu News Channel. The company is having one subsidiary, namely TV Today Network (Business) Ltd. As at March 31, 2019, the Company has 4 (four) subsidiary companies namely, T.V. Today Network (Business) Limited, India Today Online Private Limited, Mail Today Newspapers Private Limited and Vibgyor Broadcasting Private Limited.
TV Today Network Ltd was incorporated on December 28, 1999 and received the certificate for commencement of business on February 7, 2000. On April 20, 2000, the company executed a Business Transfer Agreement with Living Media, in which news-broadcasting business of Living Media was transferred to TV Today.
In the same year, the company launched Aaj Tak, a 24-hour news channel providing Hindi News. This channel was declared the Best News Channel by Indian Television Academy Awards in 2001, 2002 and 2003. In March 2003, they launched the English News Channel, Headlines Today.
During the year 2003-04, the company raised capital from the public aggregating to Rs 950,000,000 by fresh issue of 10,000,000 equity shares of Rs 5 each at a premium of Rs 90 per share. In August 2005, the company launched a new 24x7 Hindi News channel, namely Tez. Also, they incorporated a wholly owned subsidiary company, namely TV Today Network (Business) Ltd with an initial investment of Rs 1.5 million. During the year, the company successfully launched their channels Aaj Tak & Headlines Today in USA through strategic tie-up with Echostar LLC, USA.
In May 2006, the company launched a metro centric 24x7 Hindi news channel, namely Dilli Aaj Tak to cater to Delhi and NCR viewers. Since November 2007, all the four channel of the company converted to pay channels. The three channels, namely Aaj Tak, Headlines Today and Tez are on the platform of MSM Discovery (formerly Set Discovery Pvt. Ltd) and Dilli Aaj Tak is on the platform of Today Network India Pvt. Ltd.
Radio Today Broadcasting Ltd, a fellow subsidiary company merged with the company with effect from April 1, 2007. During the year, the company launched their Hindi News Channel Aaj Tak in Europe and the UK.
During the year 2015, the company received a guarantee from its holding company, Living Media India Limited, for indemnifying any loss to the Company arising from sale of the said investment.
The Board on February 6, 2015 approved the sale of Radio FM Business (seven radio stations) of the Company subject to regulatory approvals, to negotiate and execute requisite documents with potential buyers. In furtherance to the aforesaid, a non-binding memorandum of understanding (MoU) was signed with Entertainment Network (India) Limited (ENIL). On February 16, 2015, an application was filed with the Ministry of Information and Broadcasting (MIB) seeking its approval for the sale of Radio FM Business to ENIL. Since there was no response from the MIB on the application filed by the Company, the Company filed a writ petition in the Delhi High Court to expedite the matter. On April 20, 2015, the Court directed the MIB to decide the Company's application within two weeks. MIB by its order dated May 1, 2015 denied approval to the sale of Radio FM Business on the ground that proposed sale is not in conformity with FM Radio Guidelines. In Committee's meeting on May 8, 2015, the Committee took note of the MIB order dated May 1, 2015 approved the amendment of the MOU and agreed to consider other possible options along with ENIL. The Committee further challenged the above-referred MIB order with the Delhi High Court. Thereafter on the basis of representation filed by the Company with MIB, it conveyed its approval for sale of FM Radio Stations in Amritsar, Jodhpur, Patiala and Shimla vide its letter dated 20th July 2015 and thereafter the Company sold the aforesaid four radio station to ENIL vide Business Transfer Agreement dated September 11, 2015. The sale of Radio Stations at Delhi, Mumbai and Kolkata was not approved by MIB since it was stated by MIB that the sale of these stations was not in conformity with the FM Radio Guidelines, the matter is pending with the Hon'ble High Court.During FY 2015-16, the Company had given corporate guarantee amounting to Rs. 3 Crores in connection with the loan to BARC (Broadcast Audience Research Council of India) by Yes Bank Limited, which is within the limits of Section 186 of the Companies Act, 2013.
During the year 2017, the Company acquired 100% of the paid- up Equity share capital of India Today Online Private Limited' from Living Media India Limited by way of gift (i.e. without any consideration). Accordingly, India Today Online Private Limited became wholly owned subsidiary of the Company.
Further, the Company had during the year 2017, also acquired 25.21% of the total paid-up Equity share capital of Mail Today Newspapers Private Limited' by way of gift (i.e. without any consideration) from A.N. (Mauritius) Limited. Consequent upon the said acquisition, the Company along with its wholly owned Subsidiary Company, India Today Online Private Limited, holds 100 % of the paid-up share capital of Mail Today Newspapers Private Limited'. With this, Mail Today Newspapers Private Limited became a subsidiary of the Company in which the Company along with its wholly owned subsidiary holds 100% the paid-up share capital.
During the year 2018, the Company had acquired 100% of the paid-up Equity share capital of Vibgyor Broadcasting Private Limited'. Accordingly, Vibgyor Broadcasting Private Limited became wholly owned subsidiary of the Company.
During the year 2018, the Company invested an amount of Rs. 4,05,17,002/- in the Equity Shares of Mail Today Newspapers Private Limited.
During the year 2018, the Company entered into a Business Transfer Agreement with Living Media India Limited (LMIL) (Holding Company) effective from January 01, 2018 for acquisition of operations of Digital Business as a going concern on slump sale basis. Further, the Company also entered into License Agreement with LMIL effective from January 1, 2018, giving rights of LMIL's digital IPR's to the Company on payment of royalty.During the year 2018, the Board of Directors on the basis of the recommendations of the Audit Committee and subject to approval of the Shareholders, Creditors and other concerned authorities, approved Composite Scheme of Arrangement and Amalgamation of Mail Today Newspapers Private Ltd and India Today Online Private Ltd (ITOPL) with the Company and their respective shareholders and creditors at their meeting held on December 15, 2017. The Scheme provides for demerger of newspaper undertaking of Mail Today and its vesting into with the Company. It provides for merger of ITOPL with the Company. The Scheme also provides for reduction of share capital of Mail Today and ITOPL. The Company had filed the first motion application to National Company Law Tribunal (NCLT) on April 27, 2018. Further, as per NCLT Order dated July 2, 2018 read with Order dated July 9, 2018, the meetings of Equity Shareholders, Secured Creditors and Unsecured Creditors were held on September 08, 2018. The Equity Shareholders, Secured Creditors and Unsecured Creditors approved the Scheme with requisite majority. The Company had filed the second motion petition with NCLT. Further, the Company had also submitted reply to the requisition letters received from Regional Director, Ministry of Corporate Affairs and Official Liquidator on the Scheme. The matter is currently pending before the NCLT.The Board of Directors in its meeting held on March 16, 2018, granted in principle approval for the sale of the Radio Business of the Company to Entertainment Network India Limited (ENIL) as a going concern, by way of slump sale subject to approval of Ministry of Information & Broadcasting (MIB) and members of the Company. Accordingly, the Company had filed an application dated March 27, 2018 with MIB for seeking approval for proposed sale of Radio Business to ENIL. The approval of the same is awaited from MIB. Further, in order to have better focused management for Radio Business, subject to approval of shareholders and MIB, the Board has granted in-principle approval to segregate the Radio Business by transferring it to Vibgyor Broadcasting Private Limited, a wholly owned subsidiary of the Company. Accordingly, it has been decided to withdraw the aforesaid application from MIB.
In 2018, 47 new radio stations were operationalized across 35 cities, taking the total of 386 radio stations in India.
T.V. Today Network Ltd
Directors Reports
T.V. Today Network Ltd
Company Background
| Incorporation Year | 1999 |
| Registered Office | F-26 1st Floor,Connaught Cirucs
New Delhi,New Delhi-110001 |
| Telephone | 91-011-204807100/23684888/23684878,Managing Director |
| Fax | 91-011-204807154/23684895 |
Aroon PurieKalli Purie Bhandal| Company Secretary | Ashish Sabharwal |
| Auditor | S R Batliboi & Associates LLP |
| Face Value | 5 |
| Market Lot | 1 |
| Listing | BSE,NSE, |
| Registrar | MCS Share Transfer Agent Ltd
F-65 1st Floor ,Okhla Industrial Are,Phase I ,New Delhi-110020 |
T.V. Today Network Ltd
Company Management
| Director Name | Director Designation | Year |
|---|
| Aroon Purie | Chairman & Managing Director | 2008 |
| Aroon Purie | Chairman & Exec. Director | 2023 |
| Anil Mehra | Director | 2008 |
| Kalli Purie Bhandal | Vice Chairman & M.D. | 2023 |
| Anil Vig | Director | 2008 |
| Dev Bhattacharya | Non-Exec & Non-Independent Dir | 2023 |
| Rakesh Kumar Malhotra | Director | 2008 |
| Ashok Kapur | Independent Non Exe. Director | 2023 |
| Rajeev Thakore | Director | 2008 |
| Rajeev Gupta | Independent Non Exe. Director | 2023 |
| Rajan Bharti Mittal | Director | 2008 |
| Anil Vig | Independent Non Exe. Director | 2023 |
| Ashok Kumar Vermani | Company Secretary | 2008 |
| NEERA MALHOTRA | Independent Non Exe. Director | 2023 |
| JAIVIR SINGH | Independent Director | 2023 |
| Ashish Sabharwal | Company Sec. & Compli. Officer | 2023 |
T.V. Today Network Ltd
Listing Information
| Listing Information |
|---|
| BSESMALLCA |
| BSEALLCAP |
| GOODSSERVI |
T.V. Today Network Ltd
Finished Product
| Product Name | Unit | Installed
Capacity | Production
Quantity | Sales
Quantity | Sales
Value |
|---|
| Advertisement Revenue | NA | 0 | 0 | 0 | 670.8177 |
| Income from Digital Services | NA | 0 | 0 | 0 | 111.7158 |
| Subscription Income | NA | 0 | 0 | 0 | 59.6429 |
| Exch. of Services-Advert. Inco | NA | 0 | 0 | 0 | 6.0384 |
| Newpapers Publication | NA | 0 | 0 | 0 | 5.1318 |
| Income from Other operations | NA | 0 | 0 | 0 | 3.0232 |
| Other Operating Revenue | NA | 0 | 0 | 0 | 0 |
| Sale of Recorded Tapes | No | 0 | 0 | 0 | 0 |
| Service Fee | NA | 0 | 0 | 0 | 0 |
| Broadcasting Revenue | NA | 0 | 0 | 0 | 0 |
| Equipment Hire Charges | NA | 0 | 0 | 0 | 0 |