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In a huge breaking news, India’s billionaire Gautam Adani led Adani Group has acquired 29.18 percent stake in NDTV (New Delhi Television) owned by Prannoy Roy, who opposes the BJP and has a soft corner for the Congress.
This acquisition has raked up a huge debate in the media and political circles for many reasons. First would be Adani entering the media sector and second would be about NDTV’s approach towards the Modi and BJP governments in the national capital and multiple states.
Prannoy Roy’s RRPR Holdings has 29.18 per cent stake in NDTV. In the year 2009, RRPR Holdings borrowed Rs 403 crore from Vishwa Pradhan Commercial Ltd (VPCL) based on a loan agreement.
However RRPR Holdings has failed to repay the loan and so VPCL has the right of RRPR’s 29.18 percent stake. VPCL has been holding talks with AMG Media Networks, a unit of billionaire Gautam Adani’s conglomerate Adani Enterprises and we hear that the talks materialised. Besides this reports are that Adani Group is likely to announce an open offer for NDTV shares shortly and that would be a massive deal.
If things fall in place, NDTV’s image would undergo a huge makeover mostly in favour of the BJP.
Tags Adani Group Adani NDTV
