: NDTV founders Prannoy Roy and Radhika Roy sell most of their stake to Adani’s AMG network #IndiaNEWS NDTV’s founders Prannoy Roy and Radhika Roy have decided to divest their shares in the news

NDTV founders Prannoy Roy and Radhika Roy sell most of their stake to Adani’s AMG network #IndiaNEWS
NDTV’s founders Prannoy Roy and Radhika Roy have decided to divest their shares in the news channel to the AMG Media network, a wholly-owned subsidiary of Adani Enterprises.The Roys held a 32.26% stake in NDTV as promoters. On November 30, they had resigned from RRPR, or Radhika Roy Prannoy Roy, Holding Private Limited, which held 29.18% of their total stake in the news channel.With the current development, AMG Media Network is the single-largest shareholder in NDTV.“Since the open offer was launched, our discussions with Mr Gautam Adani have been constructive; all the suggestions we made were accepted by him positively and with openness,??? the Roys said in a statement.They added, “Mr Adani has invested in a brand that is synonymous with Trust, Credibility and Independence, and we are hopeful that he will preserve these values and expand upon them with all the responsibility required of a leader of an organisation of this nature.???Adani Group’s acquisition of NDTV stakeOn August 23, AMG Media Networks Limited bought 100% of the equity stakes in Vishvapradhan Commercial Private Limited, or VCPL, for Rs 113.74 crore.Later in the month, the Adani Group announced that it will acquire a 29.18% stake in NDTV through VPCL. NDTV had then said that the takeover was done without the consent or...Read more

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