India’s Adani Group to acquire NDTV

India’s Adani Group yesterday said its media unit AMG Media Networks Limited would buy a majority stake in New Delhi Television (NDTV), one of India’s most popular TV stations, Indian media reports said. 
AMG Media Networks will indirectly buy a 29.18 percent stake in NDTV and launch an open offer for another 26 percent stake. The open offer would be worth US $ 61.73 million, according to a press release 
by Adani.

The NDTV acquisition would pave the way for new-age media across platforms, AMG Media Networks CEO Sanjay Pugalia said in the press release.
Adani Group entered the media business in March this year, buying a minority stake in the digital business news platform Quintillion. Adani Group has seven publicly listed companies, which are in businesses such as operating airports and ports, power generation and transmission, coal and gas trading. Adani Group has also invested in developing the West Terminal of the Colombo Port in partnership with the local company John Keells Holdings