Quantillion Media is being acquired by Gautam Adani-led AMG Media Networks. 49 percent shares of the company will be acquired for Rs.48 crores.
Adani Enterprises said in a stock market exchange filing that the transaction worth Rs 47.84 crore was completed on March 27. The company went ahead with the steps in this regard on May 13, 2022. Quantillion runs the news platform Bloomberg Quint. It is also known as BQ Prime. The company will now be controlled by Adani’s AMG Media Networks. Adani Group has established AMG Media Network to venture into content publishing, advertising and broadcasting businesses through various types of media networks. In August 2022, the company acquired a controlling stake in television news network New Delhi Television (NDTV).
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Adani Group currently holds around 64.71 percent stake in ND TV. Adani Group’s shareholding increased after it acquired 27 percent shares of NDTV founders Prannoy Roy and Radhika Roy through an open offer. Currently, ND TV’s founders Prannoy Roy and his wife Radhika Roy hold only a five percent stake in the company. NDTV is fully controlled by the Adani Group. Prannoy Roy and Radhika Roy resigned from the board of directors of the company after Adani Group officially took over the company. There were reports that ND TV journalists were initially restricted from covering the reports against Adani by the US short-selling firm Hindenburg.