Divya Agarwal
New Delhi [India], May 17: In a historic move that is a dramatic shift for India’s broadcast and media sector, Sapphire Media Limited has officially completed the acquisition of BIG 92.7 FM, an extensive and successful Indian radio network. The acquisition establishes Sapphire Media as a significant player in the converged media space, integrating television, radio, digital, and outdoor media into one dynamic umbrella.
The acquisition is subject to all such regulatory approvals under the Ministry of Information and Broadcasting, thereby facilitating Sapphire Media to gain full board and management control over BIG 92.7 FM. The acquisition has been made under a process of resolution of insolvency by way of a compromise scheme as approved by the resolution plan of the National Company Law Appellate Tribunal (NCLAT) and the NCLT Mumbai Bench.
A Resilient Turnaround for a Broadcasting Giant – BIG 92.7 FM
BIG 92.7 FM, previously owned by Reliance Broadcast Networks Limited, had been in corporate insolvency resolution since February 2023. Rohit Mehra was the Resolution Professional for the process. Sapphire Media’s resolution plan was approved by regulatory bodies in December 2024 and May 2025, despite objections by competing broadcasters, including Radio Orange, which were duly overruled.
The group guaranteed that it has remitted the payments to the Committee of Creditors of Reliance Broadcast Networks Limited in a timely fashion, per the resolution plan’s provisions. The action brings back a heritage brand and provides continuity to its extensive operational footprint and audience connection.
Strategic Expansion of Broadcasting
The acquisition of BIG 92.7 FM further increases the broadcast reach of Sapphire Media. With 58 stations across 1,200 towns and over 50,000 villages, BIG FM enjoys unmatched reach and recall in urban and rural India. The radio station also enjoys a unique cultural connection with 340 million listeners.
With Sapphire Media’s guidance, the brand will now enjoy strategic investment in technology, digital innovation, and content diversity to meet the evolving needs of today’s hyper-connected audience. “BIG FM’s heritage for high-quality programming and mass audiences will be rekindled by innovation, diversity, and progressive broadcasting,” stated a Sapphire Media spokesperson.
This transaction is most timely with the group still riding the momentum of India Daily 24×7, a Hindi news TV channel rapidly gaining popularity for its fact-based reporting and new generation storytelling methods. Sapphire Media also owns India’s largest outdoor media network, strengthening the group’s robust media convergence.
Synergistic Growth Across Media Verticals
The Sapphire Media vision goes beyond traditional broadcasting. With firm foundations in TV, print, radio, digital, and OOH (Out-Of-Home) media, the group also aims to use synergies across these platforms to deliver compelling, omnichannel brand experiences to audiences and advertisers.
Backed by Kaithal-based businessman Sahil Mangla and media professional-turned-entrepreneur Aditya Vashistha, Sapphire Media has become a multi-diversified player in India’s dynamic media and content space. The acquisition of BIG 92.7 FM is the next big step in its vision of becoming a media conglomerate.
As Aristotle would say, “We are what we repeatedly do. Excellence, then, is not an act, but a habit.” Sapphire Media’s careful, mission-driven approach is setting excellence as the norm.
A New Chapter Begins
With the combination of BIG FM’s assets and listenership, Sapphire Media now has one of India’s strongest radio brands, set for more innovation, engagement, and speedy growth. It’s a strong declaration to the market about Sapphire Media’s vision and execution capability in consolidating media verticals under a future business model.
