RCap sells Big FM stake to Jagran Prakashan, to fetch ₹1,200 cr | Editorji
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RCap sells Big FM stake to Jagran Prakashan, to fetch ₹1,200 cr

May 28, 2019 11:45 IST

Anil Ambani's Reliance Capital Group in a statement Monday announced selling its entire stake in Big 92.7 FM Radio to Jagran Prakashan, owned by newspaper Dainik Jagran. The deal between Reliance Broadcast Network and Music Broadcast Limited is valued at₹1,200 crore which in turn will help reduce RCap's debt, the company said. RBNL operates 58 stations of which MBL will takeover 40 stations directly while RBNL will have to sell the remaining 18 separately that is expected to fetch ₹150 crore.