Famous industrialist Gautam Adani has bought the news agency IANS India. After this deal, Adani Group’s hold in the media has become stronger. Earlier in March last year, he had purchased Quintillion Business Media, which runs a digital media platform named BQ Prime. After this, Adani Group bought a 65 per cent stake in NDTV in December.
Deal Price Not Disclosed
Adani Group has bought a majority stake in the IANS news agency. The company said in regulatory information that its subsidiary AMG Media Networks (AMNL) had purchased a 50 per cent stake in IANS India Private Limited. However, Adani Group has not disclosed the price of the deal.
Increasing Hold In Media
In March last year, Adani Group purchased Quintillon Business Media, the company running the finance news digital platform BQ Prime. After this, Adani had also put NDTV in its kitty in December. AMNL also bought both of these companies. While giving information, AMNL said it has entered into a shareholder agreement with IANS and Sandeep Bamzai. The revenue of IANS in the financial year 2022-23 was Rs 11.86 crore.
IANS Will Be A Subsidiary Of AMNL
It has been said in the filing that the complete control of IANS will remain with AMNL. The company will have the right to appoint all the directors to IANS. Now, the IANS agency will be a subsidiary of AMNL.
Adani Turns Business Tycoon From Commodity Trader
Gautam Adani started his business as a commodity trader in 1988. After this, he gradually strengthened his hold in infrastructure, port, airport, FMCG, coal, energy management, cement, and copper sectors. Recently, Adani Group purchased a 5G telecom spectrum.
