Reliance Capital to sell stakes in Big FM Radio for ₹1,200 cr

Radio City will soon take over 40 stations of Reliance 92.7 Big FM, as Reliance Capital Ltd and Reliance Land (a part of the Reliance Capital Group) divest their entire equity stake in Big FM Radio.

Big 92.7 FM Radio network operates under Reliance Broadcast Network Ltd (RBNL) with 58 stations across India. Forty of these stations will be taken over by Radio City, a part of Jagran Prakashan Ltd Group company Music Broadcast Limited (MBL).

The remaining 18 stations will have to be sold separately in a second leg of the transaction, as Radio City is already present in those city and there will be an overlap. Reliance expects to earn ₹150 crore from these remaining 18 stations.