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

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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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