In a major move that strengthens its position in India’s media landscape, Sapphire Media Limited has officially taken over BIG 92.7 FM, one of the country’s most recognizable FM radio brands. The station, previously under the ownership of Reliance Broadcast Networks Limited, had been going through insolvency proceedings since early 2023. Rohit Mehra had been overseeing the process as the appointed resolution professional.
The handover follows Sapphire Media’s clearance of all regulatory hurdles, including formal approvals from the Ministry of Information and Broadcasting. As part of the process, Sapphire also completed the required payments to Reliance Broadcast’s creditors, meeting all deadlines outlined in the resolution plan.
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Both the National Company Law Appellate Tribunal (NCLAT) and the NCLT Mumbai Bench had greenlit Sapphire’s proposal, despite pushback from rival bidders such as Radio Orange. The plan was approved in rulings issued on December 23, 2024, and May 6, 2024.
This isn’t Sapphire’s first big leap. The company recently launched its Hindi news channel, India Daily 24×7, which has been gaining attention for its sharp, no-nonsense coverage and a fresh approach to current affairs. Add to that its massive footprint in outdoor advertising, and Sapphire is quickly becoming a formidable player across multiple platforms—radio, TV, digital, print, and out-of-home media.
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At the helm of this growing media house are Sahil Mangla, an entrepreneur from Kaithal, and Aditya Vashistha, a former media insider who transitioned into entrepreneurship. With BIG FM now under its wing, Sapphire Media seems poised for a bold new chapter.
