With the approval of its board, Zee Media Corporation Limited (NSEI:ZEEMEDIA) is set to go ahead with its bid for Reliance Broadcast Network Limited (RBNL), a report published in The Economic Times (ET) said. It should be noted that RBNL has been put under the corporate insolvency process by the National Company Law Tribunal (NCLT). In its company filing, Zee Media said that a resolution had been passed on May 5, 2023, that granted approval to the company to submit its expression of interest (EOI) with the Corporate Insolvency Resolution Process (CIRP) of RBNL.

This is likely to pave the way for Zee Media to acquire RBNL's business.