Radio City will soon take over 40 stations of Reliance Broadcast Network Limited, 92.7 Big FM, as Reliance Capital Limited (NSEI:RELCAPITAL) and Reliance Land Private Limited divest their entire equity stake in Big FM Radio. Big 92.7 FM Radio network operates under Reliance Broadcast Network Ltd (RBNL) with 58 stations across India. Forty of these stations will be taken over by Radio City, a part of Jagran Prakashan Ltd Group company Radio City, Inc. (Music Broadcast Limited). The remaining 18 stations will have to be sold separately in a second leg of the transaction, as Radio City is already present in those city and there will be an overlap. Reliance expects to earn INR 1.5 billion from these remaining 18 stations. MBL will initially acquire a 24% equity stake of RBNL by way of a preferential allotment for a total consideration of INR 2.02 billion. Thereafter, subject to the receipt of all regulatory approvals, MBL will acquire all of the remaining equity stake at a total enterprise value of INR 10.5 billion. Amit Bapna, Chief Financial Officer, Reliance Capital said, “We are delighted to announce the asset monetisation transaction with MBL. This transaction is part of our overall strategy to reduce exposure in non-core businesses and will reduce Reliance Capital’s debt by an estimated ?12 billion.”