Adani group entered the media industry in March last year by acquiring Quintillion Business Media.
Mumbai:
Adani Enterprises, billionaire Gautam Adani’s flagship firm, said on Saturday it had acquired a majority stake in news agency Indo-Asian News Service or IANS as the conglomerate tries to consolidate its media presence.
The Adani group said in a statement that upon acquiring a 50.5% stake for Rs 5,10,000 ($6,140), it would assume full operational and management control of IANS.
The news agency reported a revenue of over Rs 118.6 million in the 2022/23 financial year.
Adani group entered the media industry in March last year by acquiring Quintillion Business Media, which operates business and financial news digital media platform BQ Prime. Later in December 2022, it acquired almost a 65% stake in the broadcaster NDTV.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
