Sapphire Media Seals Big FM Acquisition, Amplifies Digital Media Expansion
Sapphire Media Limited acquires Reliance Broadcast Network, owner of Big FM 92.7, via insolvency proceedings. Led by Sahil Mangla and Aditya Vashistha, the deal enhances Sapphire's media presence. The acquisition includes 58 stations, making it a cornerstone in their digital content expansion journey.
- Country:
- India
Sapphire Media Limited successfully acquired Reliance Broadcast Network, the entity behind Big FM 92.7, through a rigorous insolvency process.
The acquisition followed a detailed bid evaluation where Sapphire emerged victorious with its Rs 261 crore offer, receiving approval from the NCLT and NCLAT despite competitor objections.
This move significantly expands Sapphire Media's reach with 58 radio stations, marking a strategic leap in their digital content development strategy, reinforcing their market position with innovative broadcasting solutions.
(With inputs from agencies.)
Advertisement
Google News