AMG Media Networks Ltd., a part of the Adani Group, has successfully acquired a controlling stake of 50.5% in IANS India Pvt., a prominent news agency. The acquisition, detailed in an official filing, encompasses both equity shares with and without voting rights, solidifying IANS as a subsidiary under the AMG Media Networks umbrella.
IANS India Pvt. boasts an authorized share capital of Rs 20 lakh and reported a turnover of Rs 11.86 crore during the fiscal year 2023. As a crucial aspect of the acquisition, AMG Media Networks has entered into a shareholders’ agreement with IANS and Sandeep Bamzai, an existing shareholder of IANS, to define the rights and relationships among the parties involved.
This strategic move underscores Adani Group’s expanding presence in the media sector through AMG Media Networks, positioning it as a major player in shaping India’s news and media landscape. This development aligns with Adani’s broader interests in the media industry.
Notably, earlier this year, Adani’s AMG Media Networks secured a significant 49% stake in Quintillion Business Media Pvt Ltd, the digital business news platform curated by Raghav Bahl. This move marked Adani’s foray into digital media, particularly with platforms like Bloomberg Quint, now rebranded as BQ Prime.
Additionally, Gautam Adani, the world’s third-richest person, made headlines by taking majority control of New Delhi Television (NDTV). The founders, Prannoy Roy and Radhika Roy, sold a 27.26% stake in NDTV to an Adani unit for ₹602 crore. Adani Enterprises, through its subsidiary RRPR Holdings, acquired an additional 17.6 million shares of NDTV, further solidifying Adani’s influence in the media landscape.
These strategic acquisitions showcase Adani Group’s diversified interests and significant investments in the media sector through AMG Media Networks, marking a substantial impact on India’s media landscape.
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