In the next two days, the media division of Adani Enterprises, run by the fourth-richest man in the world, Mr. Gautam Adani, would indirectly buy close to 30% shared of the NDTV. The agreement has triggered an open offer, under which the Adani group is willing to buy another 26% of the business, becoming the majority shareholder, ousting Radhika and Prannoy Roy, the company’s founders and promoters.
As soon as the process gets over, Gautam Adani, the top businessman of India, would become the owner of one of the most trusted news platforms in India. However, earlier also the rumours of Gautam Adani taking over the NDTV, were being spread across social media, which were then dismissed by Roys.
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Meanwhile, now, all set to indirectly acquire a 29.18% interest in New Delhi Television Ltd. (NDTV), Adani’s unit will also make an open offer for a further 26% of the company. According to the statement in media reports, the open offer will be valued Rs 493 crore ($61.73 million).
NDTV India, NDTV 24×7 and NDTV Profit are the three channels operated by the NDTV media house. As per the media reports, this indirect stake will be taken through Vishwapradhan Commercial Private Limited (VCPL), a subsidiary of AMG Media Network Limited (AMNL), a subsidiary of Adani Enterprises Limited (AEL).
On August 23, yesterday, the Adani Group announced its stake in NDTV at around 6.10 PM in the evening. However, about two hours later, the CEO of NDTV issued an internal mail, adding, “The news of Adani group taking a stake in NDTV is shocking for us. We were neither informed nor anyone discussed it with us.” The CEO of the NDTV group has even stated that he would take a legal action in this matter.
Mr. Gautam Adani, the top businessman of India, is the fourth most richest person in the world now. The opposition parties, mainly the Congress and its allies accuses the BJP-led Central government of favouring Mr. Adani. Furthermore, the news of Adani group buying 30% of shares of the NDTV, is shocking, not just for the people but even the CEO of the media group.