Both parties have mutually agreed to terminate the ASA with effect from 1 September 2020, the company said in a BSE filing made after market hours on Monday (31 August 2020).

Entertainment Networks (ENIL) had entered into an advertising sales agreement with TVTN on 24 August 2016, in relation to TVTN's three private FM radio stations at New Delhi, Mumbai and Kolkata. As per the agreement, ENIL had to sell TVTN's airtime to third-parties who wished to advertise using TVTN's airtime.

Entertainment Network India owns and operates radio stations. On a consolidated basis, the company reported a net loss of Rs 37.91 crore in Q1 FY21 as against a net profit of Rs 3.85 crore in Q1 FY20. Net sales during the quarter declined 71.7% YoY to Rs 36.91 crore.

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Entertainment Network (India) announced that the 21st Annual General Meeting (AGM) of the company will be held on 23 September 2020.

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Net loss of Entertainment Network (India) reported to Rs 37.91 crore in the quarter ended June 2020 as against net profit of Rs 3.85 crore during the previous quarter ended June 2019. Sales declined 71.72% to Rs 36.91 crore in the quarter ended June 2020 as against Rs 130.52 crore during the previous quarter ended June 2019.

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Entertainment Network (India) will hold a meeting of the Board of Directors of the Company on 7 August 2020.

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