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Anil Ambani, RCom, Reliance Communications, Analysis

Reliance to Sell BIG FM to Music Broadcast for Rs 1,050 Crore

The board of MBL, which operates under the brand name of Radio City, on Monday approved the acquisition of RBNL, a Reliance Group company. Anil Ambani’s Reliance Group will sell its stake in Reliance Broadcast Network Ltd (RBNL), which operates Big FM radio channels, to Jagran Prakashan-owned Music Broadcast Ltd (MBL) for an enterprise value of Rs 1,050 crore, a statement said.

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