Anil Ambani's Reliance Broadcast Network said to sell 24% stake to local media

Anil Ambani's Reliance Broadcast Network said to sell 24% stake to local media

Photographer: Qilai Shen/Bloomberg

Indian tycoon Anil Ambani is in talks to sell his FM radio broadcasting business to a local media conglomerate for 12 billion rupees ($173 million), people with direct knowledge of the matter said.