Reliance to sell BIG FM to Music Broadcast for Rs 1,200 crore

Anil Ambani's Reliance Group will sell its FM radio business by divesting its entire stake in BIG FM Radio to Jagran Prakashan-owned Music Broadcast Ltd (MBL) for an estimated value of Rs 1,200 crore, an official statement on Monday said. In a separate release, MBL that operates Radio City said its board on Monday approved the acquisition of RBNL.

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