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Sapphire Media Acquires Big FM 92.7
The Business Guardian
|May 18, 2025
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 the 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.
This story is from the May 18, 2025 edition of The Business Guardian.
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