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Business Standard
17-05-2025
- Business
- Business Standard
Sapphire Media completes acquisition of Big FM 92.7 after NCLT approval
Sapphire Media Limited has completed the acquisition of debt-ridden Reliance Broadcast Network, which owns Big FM 92.7, through the insolvency process. Reliance Broadcast Network Ltd (RBNL) was going through the Corporate Insolvency Resolution Process since February 2023. Sapphire Media is promoted by Kaithal-based entrepreneur Sahil Mangla and media professional-turned-entrepreneur Aditya Vashistha. It has received all the statutory approvals to take over the board and management control of Big FM 92.7 from Ministry of Information & Broadcasting, according to a statement. Besides, it is said to have made the payment of dues to the lenders' body, the Committee of Creditors (CoC) of RBNL, within the stipulated timelines as per the approved resolution plan. On December 23, 2024, appellate insolvency tribunal NCLAT rejected the petitions filed by other competitors and upheld the order passed by the National Company Law Tribunal approving Sapphire's resolution plan. On May 6, 2024, the Mumbai bench of NCLT had granted its nod to Sapphire's resolution plan, rejecting various objections from competitors like Radio Orange and others. The acquisition of Big FM 92.7, one of the largest radio networks of the country with 58 stations with reach of over 1,200 towns and 50,000+ villages, will help Sapphire Media's expansion as it strives to become a content and media leader. "The brand will reinforce Sapphire Media's aggressive expansions plans in ever evolving tech driven digital content creation and broadcasting space. Radio Big 92.7 FM, known for its rich legacy, diverse programming, and deep connection with 340 million listeners across India, will now be infused with fresh energy and innovation under Sapphire Media's dynamic leadership," it said. This acquisition follows the launch of India Daily 24X7, Sapphire Media's 24x7 Hindi news channel. Besides, the group runs one of India's largest outdoor advertising networks. CIRP against RBNL was initiated on February 24, 2023, after an application by IDBI Trusteeship Services, a financial creditor was admitted. Six resolution plans were submitted, in which Sapphire Media's bid of Rs 261 crore was selected by the CoC with 88.97 per cent vote share.
Time of India
17-05-2025
- Business
- Time of India
Sapphire Media completes acquisition of Big FM 92.7
Sapphire Media Limited has completed the acquisition of debt-ridden Reliance Broadcast Network, which owns Big FM 92.7 , through the insolvency process. Reliance Broadcast Network Ltd (RBNL) was going through the Corporate Insolvency Resolution Process since February 2023. Sapphire Media is promoted by Kaithal-based entrepreneur Sahil Mangla and media professional-turned-entrepreneur Aditya Vashistha . It has received all the statutory approvals to take over the board and management control of Big FM 92.7 from Ministry of Information & Broadcasting, according to a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo Besides, it is said to have made the payment of dues to the lenders' body, the Committee of Creditors (CoC) of RBNL, within the stipulated timelines as per the approved resolution plan. On December 23, 2024, appellate insolvency tribunal NCLAT rejected the petitions filed by other competitors and upheld the order passed by the National Company Law Tribunal approving Sapphire's resolution plan. Live Events On May 6, 2024, the Mumbai bench of NCLT had granted its nod to Sapphire's resolution plan, rejecting various objections from competitors like Radio Orange and others. The acquisition of Big FM 92.7, one of the largest radio networks of the country with 58 stations with reach of over 1,200 towns and 50,000+ villages, will help Sapphire Media's expansion as it strives to become a content and media leader. "The brand will reinforce Sapphire Media's aggressive expansions plans in ever evolving tech driven digital content creation and broadcasting space. Radio Big 92.7 FM, known for its rich legacy, diverse programming, and deep connection with 340 million listeners across India, will now be infused with fresh energy and innovation under Sapphire Media's dynamic leadership," it said. This acquisition follows the launch of India Daily 24X7, Sapphire Media's 24x7 Hindi news channel. Besides, the group runs one of India's largest outdoor advertising networks. CIRP against RBNL was initiated on February 24, 2023, after an application by IDBI Trusteeship Services, a financial creditor was admitted. Six resolution plans were submitted, in which Sapphire Media's bid of Rs 261 crore was selected by the CoC with 88.97 per cent vote share.
Free Malaysia Today
05-05-2025
- Free Malaysia Today
‘AI colonialism': how this tech could be a threat to diversity
By writing with AI, users of diverse backgrounds could end up seeing their own culture through a foreign lens. (Envato Elements pic) Presented as an everyday ally, promising to make our lives easier and reimagine the way we write, artificial intelligence is now widely used. But it carries a major risk: a US study claims that by imposing western writing standards, AI could smooth out styles and erase cultural particularities. To measure this threat, a team from Cornell University, led by professor Aditya Vashistha, conducted an experiment with 118 American and Indian participants. Each of them was asked to write texts on cultural themes, with or without the help of an AI writing assistant. The aim was to observe the influence of AI on their respective styles. It turns out that, while AI boosts writing speed, it also profoundly transforms personal styles. This phenomenon was particularly noticeable among the Indian participants, whose writing style became much more Americanised. To adapt to the AI's suggestions, they often had to make numerous changes. 'When Indian users use writing suggestions from an AI model, they start mimicking American writing styles to the point that they start describing their own festivals, their own food, their own cultural artifacts from a western lens,' first author Dhruv Agarwal, a doctoral student at Cornell, explained. A detailed analysis of the texts shows that the Indian participants accepted 25% of the AI's suggestions, compared with 19% for their American counterparts. At the same time, Indians were significantly more likely to modify the AI's suggestions to fit their topic and writing style to maintain cultural relevance. For example, AI typically suggested 'Christmas' to evoke a favourite holiday, overlooking Deepavali. 'Collective emergency' This bias is no mere anecdote. The authors denounce a veritable form of 'AI colonialism', an insidious cultural domination in which western standards are imposed to the detriment of other identities. And the consequences are far-reaching: by standardising the way they write, people could end up seeing their own culture through a foreign lens, to the point of altering their individual perception of it. 'This is one of the first studies, if not the first, to show that the use of AI in writing could lead to cultural stereotyping and language homogenisation,' said Vashistha. 'People start writing similarly to others, and that's not what we want. One of the beautiful things about the world is the diversity that we have.' Vashistha and colleagues are well aware of this and are calling for a change of direction. Cornell's Global AI Initiative is already looking to join forces with industry to build policies and tools that are more attentive to cultural specificities. It's a question of safeguarding the richness and diversity of human expression, protecting the plurality of voices and imaginations, and preventing digital homogenisation. Indeed, defending cultural diversity in the face of AI is not just an ethical choice, it's a collective emergency.
The Star
01-05-2025
- The Star
How AI tools can threaten cultural diversity
It turns out that, while AI boosts writing speed, it also profoundly transforms personal styles. This phenomenon was particularly noticeable among the Indian participants, whose writing style became much more Americanised. — AFP Relaxnews Artificial intelligence is now widely used. Presented as an everyday ally, promising to make our lives easier and reimagine the way we write, it nonetheless carries a major risk. A US study claims that by imposing Western writing standards, AI could smooth out styles and erase cultural particularities. To measure this threat, a team from Cornell University, led by Professor Aditya Vashistha, conducted a ground-breaking experiment with 118 American and Indian participants. Each of them was asked to write texts on cultural themes, with or without the help of an AI writing assistant. The aim was to observe the influence of AI on their respective styles. It turns out that, while AI boosts writing speed, it also profoundly transforms personal styles. This phenomenon was particularly noticeable among the Indian participants, whose writing style became much more Americanised. To adapt to the AI's suggestions, they often had to make numerous changes. "When Indian users use writing suggestions from an AI model, they start mimicking American writing styles to the point that they start describing their own festivals, their own food, their own cultural artifacts from a Western lens," explains Dhruv Agarwal, a doctoral student at Cornell and first author of the study, quoted in a news release. A detailed analysis of the texts shows that the Indian participants accepted 25% of the AI's suggestions, compared to 19% for their American counterparts. At the same time, Indians were significantly more likely to modify the AI's suggestions to fit their topic and writing style to maintain cultural relevance. For example, AI typically suggested "Christmas' to evoke a favourite holiday, overlooking Diwali, one of the country's biggest festivals. This bias is no mere anecdote. The authors denounce a veritable form of "AI colonialism', an insidious cultural domination in which Western standards are imposed to the detriment of other identities. And the consequences are far-reaching. By standardising the way they write, people could end up seeing their own culture through a foreign lens, to the point of altering their individual perception of it. "This is one of the first studies, if not the first, to show that the use of AI in writing could lead to cultural stereotyping and language homogenisation," says Aditya Vashistha. "People start writing similarly to others, and that's not what we want. One of the beautiful things about the world is the diversity that we have." Professor Aditya Vashistha and colleagues are well aware of this and are calling for a change of direction. Cornell's Global AI Initiative is already looking to join forces with industry to build policies and tools that are more attentive to cultural specificities. The stakes are immense. It's a question of safeguarding the richness and diversity of human expression, protecting the plurality of voices and imaginations, and preventing digital homogenisation. Indeed, defending cultural diversity in the face of AI is not just an ethical choice, it's a collective emergency. – AFP Relaxnews
