Through an indirect deal, the media arm of Adani Enterprises, led by Gautam Adani, the fourth richest person in the world, will acquire nearly 30 percent of NDTV’s shares over the next two days. The deal has kicked in an open offer, under which the Adani group is open to acquire another 26 percent of the company, making it the majority shareholder and squeezing out Radhika and Prannoy Roy, the founder-promoters who count among the most respected names in the television journalism industry in the country.
Once the process is over, Adani, who has enjoyed a decades-long relationship with Prime Minister Narendra Modi and seen his wealth sky-rocket in the last eight years of the BJP’s government, will become the owner of one of the most trusted news brands in the country.
