Adani Group Acquires Majority stake in IANS
Adani group-owned AMG Media Networks Ltd has acquired a 50.5 percent stake in Delhi-headquartered news agency Indo-Asian News Service (IANS), according to the company. IANS, known for its Hindi and English news wire services, will now operate as a subsidiary of AMNL, similar to NDTV. AMNL has signed a shareholders’ agreement with IANS and has also acquired voting rights in the company.
The acquisition is described as “strategic in nature” by Adani Enterprises in a regulatory filing reported by PTI. As part of the agreement, AMNL will have all operational and management control of IANS and the right to appoint all directors.
When Adani Group Acquired Majority stake in NDTV
This acquisition comes nearly a year after the Gautam Adani group’s hostile takeover of NDTV. However, NDTV’s digital viewership has continued to decline over the past year, with a decrease in views at NDTV India and NDTV 24×7. This decline coincided with an exodus of key personnel, including the Roys and senior journalist Ravish Kumar.
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