It is also one of the few major broadcasters that is often critical of Prime Minister Narendra Modi and the ruling Bharatiya Janata Party.Īdani’s move has sparked fears about shrinking editorial freedom and plurality in the world’s largest democracy. NDTV, which operates TV channels and websites, said that the move was carried out without its consent.Īdani had acquired the 29% stake in the company without any “discussion, consent or notice,” the founders and promoters of NDTV said in a statement.įounded in 1988 by journalists Radhika Roy and Prannoy Roy, NDTV is regarded as one of the most credible news networks in India. The firm “seeks to empower Indian citizens, consumers and those interested in India, with information and knowledge,” he added. “This acquisition is a significant milestone” for AMG Media Networks, Sanjay Pugalia, the CEO of the company said in a statement. It has also set in motion an offer to NDTV shareholders to buy another 26% stake in the broadcaster for $61.77 million, according to filings by the Adani Group to the Mumbai stock exchange. Asia’s richest man has launched a hostile bid to take over an influential broadcaster in India and gain a firmer footing in the country’s vibrant media space.ĪMG Media Networks, a unit of billionaire Gautam Adani’s conglomerate, said in a statement late on Tuesday that it has acquired a 29% stake in New Delhi Television (NDTV) by buying one of the network’s major shareholders for an undisclosed amount.
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