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AMG Media Networks, owned by billionaire Gautam Adani, has acquired about 49% of Quintillion Enterprise Media, a electronic organization information platform run by Raghav Bahl.
Overview
In accordance to Adani Enterprises’ stock trade submitting, the acquisition value Rs 48 crore. In May possibly of very last 12 months, the investment decision was originally declared. The arrangement for sale was signed on May perhaps 13, 2022, and the transaction was closed on March 27, 2023. It said that the transaction was concluded for Rs 47.84 crore.
The information website Bloomberg Quint, now known as BQ Primary, is operated by Quintillion Business enterprise Media. For its undertaking into “publishing, advertising and marketing, broadcasting, and allocation of information above distinct types of media networks,” Adani Group recognized AMG Media Networks.
Adani Enterprises announced its foray into the media business by buying an unspecified minority stake in QBML on March 1, 2022, after signing a Memorandum of Comprehension with Quint. In September 2021, the conglomerate appointed Sanjay Pugalia, a seasoned journalist, to lead Adani Media Ventures.
Stop Notice
In addition, the Adani team acquired a 64.71 per cent stake in New Delhi Television Ltd. (NDTV) the preceding 12 months, like the equity stake of 27.26 per cent held by NDTV founders Prannoy and Radhika Roy. The company’s Roys and 4 other impartial administrators resigned on December 30.
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