In a historic move that is a dramatic shift for India's broadcast and media sector, Sapphire Media Limited has officially completed the acquisition of BIG 92.7 FM, an extensive and successful Indian radio network. The acquisition establishes Sapphire Media as a significant player in the converged media space, integrating television, radio, digital, and outdoor media into one dynamic umbrella.

The acquisition is subject to all such regulatory approvals under the Ministry of Information and Broadcasting, thereby facilitating Sapphire Media to gain full board and management control over BIG 92.7 FM. The acquisition has been made under a process of resolution of insolvency by way of a compromise scheme as approved by the resolution plan of the National Company Law Appellate Tribunal (NCLAT) and the NCLT Mumbai Bench.