Adani group's AMG Media Networks Ltd (AMNL), through its indirect subsidiary RRPR, has acquired 27.26 per cent stake in NDTV from Radhika Roy and Prannoy Roy, resulting in a controlling stake of 64.71 per cent in NDTV by AMNL through its subsidiaries, a statement said.
The Roys continue to hold a 5 per cent stake in NDTV, a welcome presence in NDTV's new chapter, it said.
Gautam Adani, Founder and Chairman of the Adani Group said: "The Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organisation."
"I take this opportunity to thank Radhika Roy and Prannoy Roy for a friendly and seamless transition", said Sanjay Pugalia, CEO, AMG Media Networks Ltd. "We will deliver news that really adds value to the lives of Indian citizens and those interested in India."
Subsequent to change in control, the Board of NDTV has been further strengthened with the appointment of former IAS officer Sunil Kumar and former civil servant Aman Kumar Singh, in addition to Sanjay Pugalia and Senthil Sinniah Chengalvarayan, who were appointed earlier.
All the new directors have diverse experience in the fields of news, literacy and public policy, governance, media, branding, communication, technology, and economy to significantly accelerate value creation for all stakeholders, said the company.
Recognised as "India's and Asia's Most-Trusted News Broadcaster", it remains to be seen how long NDTV can keep its viewership of about 35 million followers across various platforms. AMNL will have to harness between brands like BQ Prime and NDTV Profit. BQ Prime has purely digital presence. NDTV Profit is a business TV channel from the NDTV stable.
(With inputs from IANS)
