HT Media has decided to shut down all of its FM radio operations across key Indian markets, including Delhi, Mumbai, Bengaluru, and Chennai.
The company, along with its subsidiaries, will surrender multiple radio licenses to the government and discontinue operations by June 15, 2026.
In a stock exchange filing, the company said three radio brands across five cities will be shut down. HT Media will discontinue Radio Nasha, which broadcasts on 91.9 FM in Mumbai. Its subsidiary, Next Radio, will shut Radio One, which operates on 94.3 FM in Delhi, Mumbai, and Bengaluru. Another wholly owned subsidiary, HT Music & Entertainment Company, will discontinue Radio Fever, which broadcasts on 91.9 FM in Chennai.
The company clarified that the surrender of licenses is voluntary and not linked to any government action, cancellation, or penalty. Applications for surrender are currently being submitted to the Ministry of Information and Broadcasting (MIB), which had originally issued the licenses.
HT Media said the primary reason behind the closure is that the radio business has become “financially and strategically unviable.”
As per the company’s audited financial statements for FY2024–25, the radio business generated revenue of Rs 29.19 crore, contributing just 1.62% to HT Media’s consolidated revenue. At the same time, the combined net worth of these radio stations stood at a negative Rs 172.08 crore, accounting for negative 10.33% of the company’s consolidated net worth. In comparison, HT Media’s overall consolidated net worth remains positive at nearly Rs 1,666 crore.
The licenses being surrendered were valid for several more years. The license for Radio Nasha was valid until March 20, 2031, while licenses held by Next Radio and HT Music & Entertainment Company were valid until March 31, 2030. Despite this, the company has chosen to exit the FM radio business ahead of schedule.
HT Media also confirmed that it has not entered into any sale agreement for the radio stations or related divisions.