From frontrunner in the 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 has been 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 the 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 24 x 7 news channel in the highly competitive Hindi news genre .
Sapphire is promoted by Kaithal , Haryana – based businessman Sahil Mangla , and media professional turned entrepreneur Mr Aditya Vashistha .
The acquisition by Sapphire Media is expected to inject fresh energy into Big FM . As the 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 .