ANI PR Wire
20 Nov 2023, 22:59 GMT+10
VMPL
New Delhi [India], November 20: From frontrunner in race to the final winner, Haryana-based Sapphire media Limited has won the bid for Iconic radio network BiG 92.7 FM leaving radio Mirchi behind.
Big FM was going through an insolvency process since Feb 2023.
As per sources, Bid of Sapphire Media Limited has been approved by a committee of creditors of Big 92.7 Fm owner reliance broadcast networks limited. The acquisition of Big FM aligns seamlessly with Sapphire Media's business strategy to delivering high-quality content and engaging experiences to a diverse section of audience, a source familiar with the developments said. This strategic move marks a significant milestone in Sapphire Media's mission to further strengthen its presence in the dynamic and evolving media landscape.
The development comes close on the heels of the group making foray into news broadcasting with the launch of India Daily, a 24x7 news channel in the highly competitive Hindi news genre.
Sapphire is promoted by Kaithal, Haryana based businessman Sahil Mangla and media professional turned entrepreneur Aditya Vashistha.
The acquisition by Sapphire Media is expected to inject fresh energy into Big FM. As country's largest radio network with 58 stations and reaching out to over 1,200 towns and over 50,000 villages, the brand will reinforce Sapphire Media's pan India presence.
Sapphire media's officials declined to comment on the same.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
Get a daily dose of South East Asia Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to South East Asia Post.
More InformationBEIJING, China: The Chaoyang District Intermediary Court in Beijing has begun compensation hearings for the Chinese relatives of those who ...
Israel resumed its military operation in the Gaza Strip on Friday with heavy bombardments. As strikes continue, the United States ...
LIVINGSTON, Kentucky: CSX railroad said that a failed wheel bearing on a train car caused a derailment on November 22 ...
HELSINKI, Finland: After Finland joined the North Atlantic Treaty Organization (NATO) earlier this year, hundreds of migrants from the Middle ...
CHISINAU, Moldova: Over the weekend, heavy snowfall and strong blizzards in Romania, Moldova and Bulgaria left one person dead and ...
WASHINGTON D.C.: After a House Ethics Committee report found substantial evidence that he broke the law, New York Republican representative ...
WASHINGTON D.C.: As businesses built more warehouses and accumulated machinery equipment, the U.S. economy grew faster than initially forecast in ...
WASHINGTON D.C.: This week, the White House said that Senior Biden administration officials met with the makers of respiratory syncytial ...
CHEYENNE, Wyoming: This week, the Biden administration raised US$3.4 million from a sale of oil and gas drilling rights in ...
NEW YORK, New York - U.S. stocks extended their rally on Friday despite remarks by Federal Reserve Chair Jerome Powell ...
MOSCOW, Russia: Russia's trade in oil with India, one of the most lucrative oil trade routes since the imposition of ...
LONDON - Health experts and tobacco campaigners have strongly criticized New Zealand's decision to repeal laws that aimed to ban ...