Sapphire Media has completed the acquisition of the 92.7 Big FM, an FM Radio station previously owned by Reliance Broadcast Networks.
BIG 92.7 FM was under corporate insolvency resolution process since February 2023. Rohit Mehra was appointed as the resolution professional.
Sapphire Media has received all the statutory approvals to take over the board and management control of Radio Big 92.7 FM from the Ministry of Information and Broadcasting. It is said to have made the payment of dues to the committee of creditors of Reliance Broadcast Networks within the stipulated timelines as per the approved resolution plan.
Earlier, the National Company Law Appellate Tribunal (NCLAT) principal bench & NCLT Mumbai Bench had approved the resolution plan submitted by Sapphire Media Limited in its order dated Dec 23, 2024 and May 6, 2024, respectively, rejecting the various objections from the competitors like Radio Orange and others.
Radio Big 92.7 FM is one of the largest radio networks in the country with 58 stations and a reach of over 1,200 towns and 50,000 plus villages. The brand will reinforce Sapphire Media’s aggressive expansion plans in ever evolving tech-driven digital content creation and broadcasting space.
This acquisition follows the successful launch of India Daily 24X7, Sapphire Media’s 24×7 Hindi news channel, which has quickly earned recognition for credible journalism and a modern approach to news. The group also runs an outdoor advertising network, creating unmatched synergy between TV, radio, print, Digital and outdoor media.
Sapphire Media is promoted by Kaithal-based entrepreneur Sahil Mangla and media professional-turned-entrepreneur Aditya Vashistha.
