Gautam Adani’s takeover of NDTV may have caused disquiet in the news industry, but it has proved lucrative to several employees of the TV news network. The billionaire’s purchase of about 30 percent of the broadcast company, and whispers about it in the preceding months, sent its share price soaring, enabling several top executives to make a tidy profit.
AMG Media Networks Limited, the fledgling media arm of Adani Enterprises, announced on August 23 that it was acquiring 29.18 percent of NDTV. The deal kicked in an open offer that enables Adani Enterprises to acquire another 26 percent of the media company, making it the majority shareholder. The open offer gets rolling on October 17.
