Sapphire Media Acquires Big 92.7 FM
The National Company Law Appellate Tribunal (NCLAT) and NCLT Mumbai had earlier approved the resolution plan submitted by Sapphire Media in December 2024 and May 2024 respectively, dismissing objections raised by competitors, including Radio Orange.
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Sapphire Media Limited has successfully acquired the popular FM radio network, BIG 92.7 FM, marking a significant move in India's media landscape. Previously owned by Reliance Broadcast Networks Limited, BIG FM was undergoing a corporate insolvency resolution process since February 2023, with Rohit Mehra serving as the resolution professional.
The acquisition was formalised after Sapphire Media received all statutory approvals from the Ministry of Information and Broadcasting, enabling it to take over board and management control. As part of the approved resolution plan, the company cleared all dues to the committee of creditors within the stipulated timelines.
The National Company Law Appellate Tribunal (NCLAT) and NCLT Mumbai had earlier approved the resolution plan submitted by Sapphire Media in December 2024 and May 2024 respectively, dismissing objections raised by competitors, including Radio Orange.
BIG 92.7 FM, with 58 stations and presence in over 1,200 towns and 50,000 villages, stands as one of the largest radio networks in India. Under Sapphire Media's leadership, the network aims to merge its legacy of diverse programming and strong audience engagement with fresh innovation and digital synergy.
This acquisition comes on the heels of the successful launch of Sapphire Media's 24x7 Hindi news channel, India Daily 24X7, and adds to its growing portfolio which includes a vast outdoor advertising network. Together, these platforms strengthen the group's integrated media strategy spanning TV, radio, digital, print, and outdoor media.
Founded by Kaithal-based entrepreneur Sahil Mangla and media professional-turned-entrepreneur Aditya Vashistha, Sapphire Media aims to emerge as a leading content and media conglomerate in India. The acquisition of BIG FM is a strategic leap towards that vision, reinforcing its aggressive expansion in content creation and broadcasting.
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