Adani acquires 50.5% stake in IANS, making presence stronger in media sector

Adani group announced on December 15, 2023, that it has acquired a 50.5 per cent stake in newswire agency, IANS India Pvt Ltd for 5.1 lakh, further consolidating its presence in the media sector, according to a regulatory filing..

In a regulatory filing, Adani Enterprises -- the firm that holds the group's media interest -- said its subsidiary "AMG Media Networks Ltd has bought a 50.50 per cent stake constituting equity shares of IANS India Pvt Ltd." ..

Adani Enterprises' subsidiary AMG Media Networks signed an agreement with IANS and its shareholder Sandeep Bamzai to acquire the news organization, according to an exchange filing late on Friday..

After this development, Adani will have three media projects - the NDTV network, Quintillion Business that operates business and financial news digital media platform BQ Prime, and now IANS..

Adani Group plans to spend 7 trillion ($84 billion) on infrastructure over the next decade, a similar amount the Indian conglomerate owned by billionaire Gautam Adani has lost in market value since corporate fraud allegations were leveled against it by a US short-seller earlier this year, Mint reported earlier...

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