IANS News Agency: Gautam Adani’s new stake in media sector, increased stake in this news agency

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IANS News Agency: Indian industrialist Gautam Adani (Gautam Adani)’s dominance in the media sector has increased. He has increased his stake in news agency IANS. Adani Group’s stake in this has now reached 76 percent. It is being told that Adani Group’s subsidiary company AMG Media Networks (AMNL) has purchased fresh shares worth Rs 5 crore in the news agency. After this the company IANS Share has increased from 50.5 percent to 76 percent. Earlier, Adani Group had bought its stake in NDTV. According to the media report, the company has informed in the information given to the stock market that now its share in the news agency in the voting rights category has increased to 76 percent and in the non-voting rights category to 99.26 percent. It is being told that the board meeting of IANS was held on January 16 in which the decision to buy shares of Adani Group was approved.

Adani had bought NDTV in 2022

Let us tell you that in the year 2022, AMG company of Adani Group had bought 65 percent stake in NDTV in December 2022. Along with this, in the same year the company had also purchased Quintilian Business Media. It is understood that the country’s two biggest industrial houses, Ambani and Adani, are facing each other to expand their presence in the media sector. Adani Group’s NDTV and NDTV Profit are giving direct competition to Reliance’s News 18 and Moneycontrol.

Bought 50.2 percent stake in December

Gautam Adani had bought 50.2 percent stake in IANS in December 2023. Adani Enterprises told the stock market on December 16 that its AMG Media Network Limited (AMNL) has acquired 50.50 percent equity shares of IANS India Private Limited. 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.

IANS had earned Rs 11.86 crore in 2022-23

According to stock exchange filings, AMNL has signed a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS, in respect of IANS. 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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