MUMBAI: TV Today has indicated that it would acquire the group?s radio business and also create a separate joint venture where it would move its digital assets.

TV Today chairman and MD Aroon Purie said that this would be after obtaining requisite approvals. He added that the digital intellectual property held by TV Today and its holding company, Living Media India Ltd, was to be transferred to a separate joint venture.

Meanwhile, TV Today announced its FY 2006-07 results. The company?s net profit rose 12 per cent at Rs 310.9 million for the fiscal, up from Rs 277.7 million a year ago.

The topline crossed Rs 2.02 billion mark, growing by over 20 per cent over the last fiscal?s figure of Rs 1.67 billion.

The PBITD figure went up from 603.7 million to 653.1 million and the EPS is at Rs 5.36, up from Rs.4.79 over FY 05-06, the company said in a release. Further, the company has declared a dividend of 15 per cent on equity shares of face value Rs.5 each.

TV Today CEO G Krishnan commented, "TV Today is on the growth track. We have continued to grow year on year despite the increasing number of players in the market."

Commenting on the growth rate, Purie said, "Each of our offerings is unique and that is why they have all made a distinct space for themselves. We will continue to deliver value to our investors and advertisers by expanding the news base."

In this fiscal, TV Today launched its fourth 24-hour news channel - Dilli Aaj Tak, a utility-based channel specific to Delhi/NCR. On the international front, Aaj Tak and Headlines Today were launched in the US on the Dish Network. A separate feed has been launched for the US for both these channels.