M&A M&A
Broadcaster Big FM acquires Sapphire Media’s news biz
Source Sapphire Media’s (opens in a new tab)Economic Times (opens in a new tab)
Mumbai-based Big FM has acquired the news business of Ambala, Haryana-based Sapphire Media , which includes the channel India Daily 24x7.Founded in 2010 by Sahil Mangla and Aditya Vashistha, Sapphire Media’s news business comprises television news broadcasting through its news channel, India Daily 24x7, which provides news coverage and current-affairs content. Big FM plans to use these new channels to build a national news network that integrates traditional broadcasting with digital-first formats.The proposed channels are intended to focus on hyperlocal and vernacular news, regional perspectives and short-form content designed for digital consumption.