New Delhi, May 17 -- Sapphire Media limited has completed the acquisition of FM Radio station, BIG 92.7 FM.

Big 92.7 FM, previously owned by Reliance Broadcast Networks Limited and was under corporate insolvency resolution process since February 2023. Rohit Mehra was appointed as the resolution professional.

Sapphire Media Limited has received all the statutory approvals to take over the board and management control of Radio Big 92.7 FM from the Ministry of information and Broadcasting. It is said to have made the payment of dues to the committee of creditors of Reliance Broadcast Networks Limited within the stipulated timelines as per the approved resolution plan.

Earlier The National Company Law Appellate Tribunal (NCLAT) principal b...