Anil Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group. (Reuters )
Anil Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group. (Reuters )

Reliance Capital to sell Big FM to Music Broadcast for 1,050 crore

  • The entire transaction is expected to close in the first quarter of FY2021
  • MBL is acquiring 40 stations from Reliance. Post the acquisition, MBL will operate a network of 79 Stations making it the largest radio network in India. MBL is part of media conglomerate Jagran Prakashan group.

MUMBAI : The Anil Ambani-controlled Reliance Capital and Reliance Land has agreed to divest its entire equity stake in Reliance Broadcast Network Ltd, which operates the BIG FM radio network, to Music Broadcast Ltd for 1,050 crore, the firm said in a stock exchange filing on Monday.

The entire transaction is expected to close in the first quarter of FY2021.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.


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