Adani Group Acquired Majority Stake In The News Agency IANS
Delhi/Hyderabad, Dec 16 (Maxim News): Billionaire Gautam Adani’s group has acquired a majority stake in news agency IANS India Pvt Ltd for an undisclosed sum as the group expands its presence in the media space.
In a regulatory filing, Adani Enterprises – the firm that holds the group’s media interest – said its subsidiary “AMG Media Networks Ltd has acquired a 50:50 percent stake constituting equity shares of IANS India Pvt Ltd., the company did not disclose the acquisition price.”
Adani forayed into the media business in March last year when it acquired Quintillion Business Media, which operates the business and financial news digital media platform BQ Prime. It thereafter in December took nearly 65 percent take in broadcaster NDTV.
AMNL was the vehicle for these acquisitions as well. In the filing, it said, “AMNL has also signed a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS, to record their inter-se-rights concerning IANS, “IANS had a revenue of Rs. 11.86 crore in the fiscal year 2022-23 (April 2022 to March 2023)
“All operational and management control of IANS will be with AMNL and AMNL will have the right to appoint all directors of IANS, ” the filing said.
“Under the acquisition as set out above, IANS is now a subsidiary of AMNL.” A first-generation entrepreneur, Adani started as a commodities trader in 1988 and expanded his business interests to become India’s largest private player in infrastructure, with 13 ports and eight airports. Over the years it diversified into producing coal, energy distribution, data centers and more recently into cement and copper. It even bid and acquired 5G telecom spectrum to set up a private network. (Maxim News)
Next Story :
-
Adani Bribery Case: KTR Demands Telangana Govt To Cancel All Contracts
![Adani Bribery Case: KTR Demands Telangana Govt To Cancel All Contracts]()
Hyderabad, Nov 22 (Maxim News): BRS working president KT Rama Rao demanded the Congress government in Telangana to cancel its agreements with the Adani Group, worth Rs 12,400 crore, and return the Rs 100 crore donation made by the group for the Skill University. The demand follows charges of corruption and bribery against industrialist Gautam Adani…
-
Raja Singh Sparks Controversy Again: Advises Ayyappa Devotees’ To Visit Vavar Mosque
![Raja Singh Sparks Controversy Again: Advises Ayyappa Devotees’ To Visit Vavar Mosque]()
Hyderabad, Nov 22 (Maxim News): Goshamahal BJP MLA Raja Singh, sparked controversy after advising Ayyappa Swamy devotees not to visit the Vavar mosque of Hazrath Vavarswami Darga and mosque—popularly known as Vavar mosque—when traveling to the Sabarimala Temple in Kerala.
-
Telangana: DCA Cracks Down On Fake Drug Claims For Critical Illness
![Telangana: DCA Cracks Down On Fake Drug Claims For Critical Illness]()
Hyderabad, Nov 22 (Maxim News): The Drug Control Administration (DCA), Telangana State seized several drugs that were circulating in the market with misleading claims of treating Cardiovascular disorders, blood pressure, Ophthalmic diseases/disorders, fevers, and diabetes, which is in contravention of the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954, a DCA press release said.
-
Three Arrested For Practicing Allopathy In Telangana
![Three Arrested For Practicing Allopathy In Telangana]()
Hyderabad, Nov 22 (Maxim News): The drug inspectors of Telangana State Drug Control Administration (TSDCA) conducted raids on the premises of three quacks (unqualified medical practitioners), who were practicing allopathy, at different locations in Telangana State and seized substantial stocks of medicines worth Rs. 83,000, stored illegally for sale.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter and Instagram. For all the latest Hyderabad News updates
