The company that owns BIG FM, India’s 45 city radio network could be up for sale, reports the business daily Mint.

Reliance Broadcast Network, which runs BIG and several TV stations, is in the process of delisting from the Mumbai Stock Exchange along with Reliance MediaWorks, a cinema multiplex business.

Mint quoted two unnamed sources suggesting that the two companies could be fully or partially sold.

“Right now, …potential investors who may be interested in acquiring a stake in only one of the businesses aren’t able to do so,” one of the two persons told the paper.

“With the delisting and subsequent breaking up of the business into separate companies, investors can choose the business that attracts them.”

92.7 BIG FM, which launched in 2006, is one of the country’s largest radio networks, operating on FM in 45 cities.

BIG had been expected to be aggressive in bidding for many of the 839 new FM licences, due to be auctioned during Phase III of private FM licencing in India.

While Mint’s sources didn’t disclose which companies may be more likely to be sold, the paper did says the BIG radio business is profitable, unlike its TV and cinema operations.

Last month the main owners of Reliance Broadcast – known as promoter shareholders – offered a floor price at Rs46.47 per share to take the company private.

Analaysts say the price is currently much lower than the current market price.