Quantillion Media is being acquired by Gautam Adani-led AMG Media Networks. 49 percent shares of the company are being acquired for Rs.48 crores.
Adani Enterprises said in a stock market exchange filing that the deal worth Rs 47.84 crore was completed on March 27. The company went ahead with the steps in this regard on May 13, 2022. Quantillion operates the news platform Bloomberg Quint. It is also known as BQ Prime. The company will now be controlled by Adani’s AMG Media Networks. Adani Group has established AMG Media Network to venture into content publishing, advertising and broadcasting businesses through various media networks. In August 2022, the company acquired a controlling stake in television news network New Delhi Television (NDTV).
At present, Adani Group has about 64.71 percent stake in NDTV. Adani Group’s shareholding increased with the acquisition of 27 percent shares of NDTV founders Prannoy Roy and Radhika Roy through an open offer. Currently, NDTV’s founders Prannoy Roy and his wife Radhika Roy hold only a five percent stake in the company. NDTV is fully controlled by the Adani Group. Prannoy Roy and Radhika Roy resigned from the company’s board of directors after Adani Group officially took over the company. Initially, there were reports that NDTV journalists were restricted from covering the reports released by the US short-selling firm Hindenburg against Adani.
