A subsidiary of the Adani group has indirectly acquired 29.18 percent in NDTV and launched an open offer, the Hindu reported today.
The group also issued a press release on the acquisition, calling it a "significant milestone" in the journey to "pave the path of new media across platforms".
AMG Media Networks Ltd, a wholly owned subsidiary of Adani Enterprises, acquired "100% equity stake" in Vishvapradhan Commercial Private Ltd. According to the press release, Vishvapradhan "exercised its rights" to acquire 99.5 percent equity shares of NDTV's holding company.
Adani Group to purchase 29.18% stake in media group NDTV. pic.twitter.com/XMUUc4gUzK
— ANI (@ANI) August 23, 2022
AMG Media Networks Ltd CEO Sanjay Pugalia said, "AMNL seeks to empower Indian citizens, consumers and those interested in India, with information and knowledge. With its leading position in news and its strong and diverse reach across genres and geographies, NDTV is the most suitable broadcasting and digital platform to deliver on our vision."
On the open offer, Economic Times reported that Adani Enterprises, along with two others, has made an open offer to buy 26 percent stake in NDTV for Rs 294 per share.
However, NDTV has called this a "baseless rumour". In a disclosure dated August 22 to the Bombay Stock Exchange, NDTV said "Radhika and Prannoy Roy are not in discussions now, nor have been, with any entity for a change in ownership or a divestment of their stake in NDTV."
“This is a baseless rumour. Radhika and Prannoy Roy are not in discussions, nor have been, with any entity for a change in ownership or a divestment of their stake in NDTV”@ndtv clarification to BSE. So, has Adani made the open offer after a deal with Mukesh Ambani? pic.twitter.com/V6biWXDDT5
— churumuri (@churumuri) August 23, 2022
Read our detailed piece on the connections between NDTV and Vishvapradhan. Also read about how Reliance bailed out NDTV's holding company.
Meanwhile, in the usual fashion, social media is abuzz with speculation.
Big Breaking: Ravish Kumar and 5 other big anchors shifted to a resort as Adani Group takes over NDTV.
— Rofl Gandhi 2.0 (@RoflGandhi_) August 23, 2022
BREAKING: Adani buys NDTV
— YSR (@ysathishreddy) August 23, 2022
Is their anything left that is not yet sold to Mr Modi? pic.twitter.com/gvhw1jygv7
NDTV changes its full form to Narendra Damodardas TeleVision. https://t.co/ONHxtghkRb
— Anurag Minus Verma (@confusedvichar) August 23, 2022
EnDTV.#Adani
— Parth MN (@parthpunter) August 23, 2022
Breaking : Adani group buys NDTV.
— Anshuman Sail (@AnshumanSail) August 23, 2022
Takeover soon.
Wow. Adani has bought NDTV.
— Ashish K. Mishra (@akm1410) August 23, 2022
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