Entertainment Network India Limited (ENIL) has entered into a non-binding Memorandum of Understanding with TV Today Network for the acquisition of Oye FM, reports Campaign India.

ENIL operates the 32-station network Radio Mirchi and TV Today has seven Oye FM stations under its banner.

Oye FM broadcasts on 104.8 FM in Mumbai, Delhi, Kolkata, Amritsar, Jodhpur, Patiala and Shimla.

ENIL will purchase all seven stations, though the financial details of the deal have not been disclosed.

According to a statement from TV Today, the sale is subject to fulfillment of the contractual obligations and receipt of all necessary regulatory approvals including permissions from the Ministry of Information and Broadcasting, Government of India.