India tycoon Adani in hostile bid for news channel NDTV
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The richest man in Asia, Gautam Adani, is attempting to acquire control of New Delhi Television, also known as NDTV, an Indian news channel.
The multi-billionaire recently made an effort to acquire a majority share in the company.
“This was conducted without any input from, communication with, or consent from the founders of the company,” according to NDTV.”
Because he is regarded as being close to Prime Minister Narendra Modi, Mr. Adani’s bid for NDTV, which runs TV networks and websites, has garnered attention.
AMG Media Networks Limited (AMNL), a division of the Adani Group, announced on Tuesday that it had plans to acquire RRPR Holding, which holds 29.18% of NDTV, for an undisclosed sum.
AMNL further stated that it would make an open bid for an additional 26% of NDTV, which, if accepted, would give it control of the majority of the news organisation.
According to AMNL CEO Sanjay Pugalia, the takeover marked “a critical milestone in the journey of AMNL’s ambition to pioneer the route of new age media across platforms.”
“With information and knowledge,” Mr. Pugalia continued, “AMNL aspires to empower Indian residents, customers, and those with an interest in India.”
He stated, “NDTV is the best broadcast and digital platform to realise our objective. With its market-leading position in news and broad, powerful reach across genres and regions, he added.
In response to the offer, NDTV asserted that it was only Tuesday that it was made aware of Mr. Adani’s ambitions.
“NDTV’s journalism, which forms the cornerstone of its operations, has never been compromised. The company said in a statement, “We still completely support that journalism. The business operates three national channels and news websites.
With a net worth of $135 billion (£114.3 billion), Mr. Adani is the richest person in Asia, according to the Bloomberg Billionaires Index.
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