Adani Group buys 50.5% stake in news agency IANS

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Industrialist Gautam Adani The group has expanded its presence in the media sector by acquiring a major stake in news agency IANS India Private Limited. However, the amount of the deal has not been disclosed yet.

Adani acquired 50.50 percent equity shares

Adani Enterprises told the stock market that its AMG Media Network Limited (AMNL) has acquired 50.50 percent equity shares of IANS India Private Limited.

Adani had acquired Quintillion Business Media last year

Adani had entered the media business in March last year by acquiring Quintillion Business Media, which operates digital media platform BQ Prime. After this, in December, AMNL acquired about 65 percent stake in broadcaster NDTV. According to stock exchange filings, AMNL has signed a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS, in respect of IANS.

IANS’s income in 2022-23 is Rs 11.86 crore

The income of IANS in the financial year 2022-23 was Rs 11.86 crore. It said, all operational and management control of IANS will be with AMNL. AMNL will also have the right to appoint all the directors of IANS.

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