4 months ago
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Billionaire Gautam Adani's radical has taken afloat power of quality bureau IANS by purchasing the remaining 24% involvement for an undisclosed sum of money.
AMG Media Networks Ltd, the media limb of the group's flagship steadfast Adani Enterprises, has entered into a stock acquisition statement to get the remaining involvement successful IANS India Private Limited, according to a banal speech filing by the company. It, however, did not disclose the fiscal details of the transaction.
The radical successful December 2023 acquired a bulk 50.50% involvement successful IANS (Indo-Asian News Service), making the newswire bureau a subsidiary of the Adani media arm. In January 2024, AMG Media Networks (AMNL) accrued its ownership of IANS shares with voting rights to 76%, and astir each non-voting shares, up from 50.5% each earlier.
"AMNL has present executed a Share Purchase Agreement connected January 21, 2026, to get the remaining involvement successful IANS. Upon completion of the projected transaction, IANS shall go a wholly-owned step-down subsidiary of the company," Adani Enterprises Ltd said successful the filing.
Prior to this, AMNL held 76% of Category-1 shares of IANS and 99.26% of Category-II shares. "Acquisition of pursuing shares successful IANS (is being done) by AMNL—24% Category I shares—with voting rights; 0.74% Category II shares—without voting rights," it said.
IANS, 1 of India's established multi-language quality agencies, provides quality contented crossed print, digital, and broadcast platforms. The afloat takeover further deepens Adani's beingness successful the media and contented ecosystem, pursuing earlier moves, including stakes successful NDTV and different media properties.
Adani Group's introduction into the media assemblage began successful 2022 arsenic portion of a strategical diversification beyond its accepted strengths successful ports, energy, and infrastructure. In April 2022, Adani Enterprises acceptable up AMG Media Networks Ltd. as its superior conveyance for media and publishing acquisitions. Soon after, AMG Media bought a involvement successful Quintillion Business Media Ltd, relation of the concern and fiscal quality integer level BQ Prime.
In December 2022, the radical moved into mainstream broadcast quality by acquiring a controlling involvement (around 65%) successful NDTV, 1 of India's starring quality broadcasters.
This was followed by the group's archetypal acquisition of IANS (Indo-Asian News Service) on December 15, 2023. The acquisitions - from BQ Prime to NDTV to IANS - underscore Adani's accelerated build-out of a multi-platform media presence, spanning digital, broadcast and newswire services.
The IANS acquisition extend,s Adani's beingness crossed the contented proviso concatenation that serves publishers, broadcasters and integer platforms.
