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"Radhika and Prannoy Roy are not in discussions now, nor have been, with any entity for a change in ownership or a divestment of their stake in NDTV," it had said. Until Tuesday, NDTV had maintained that its promoters were not in talks to sell their stake in the company. VCPL, along with AMG Media Networks Ltd and AEL (persons acting in concert), will launch an open offer to acquire up to 26 per cent stake in NDTV" in compliance with takeover norm. "RRPR is a promoter group company of NDTV and holds a 29.18 per cent stake in NDTV," the statement said. Such acquisition will result in VCPL acquiring control of RRPR. VCPL has exercised warrants to acquire 99.5 per cent in RRPR," it said. "AMVL's wholly-owned subsidiary Vishvapradhan Commercial Pvt Ltd (VCPL) holds warrants of RRPR Holding Pvt Ltd (RRPR) entitling it to convert them into a 99.9 per cent stake in RRPR. Last year, Adani Media Ventures Ltd (AMVL), the media arm under the group's flagship Adani Enterprises Ltd (AEL), had acquired the digital business news platform Quintillion Business Media Pvt Ltd (QBM). This will be the ports-to-energy group's most high-profile bet in the media sector where Ambani already has a sizeable presence through Network18, which runs a bouquet of channels, including news channel CNN-News18 and business channel CNBC-TV18. NDTV said the debt was converted into equity without any input from the founders or the company. The open offer would be worth Rs 493 crore.
Subsequently, it has launched an open offer for another 26 per cent stake, the group said in a statement. The particular company had loaned Rs 250 crore to NDTV in 2008-09 and the Adani group firm now exercised the option to convert that debt into a 29.18 per cent stake in the news channel company. Tapping on a story in iMessage will open it in the NDTV app.The owners of New Delhi Television Ltd (NDTV), one of the nation's most popular news channels, said they were completely unaware of the takeover until Tuesday, and that it was done without their consent or any discussion.Īs the richest Indian Gautam Adani's group looks to boost media investments as part of an ambitious expansion plan, a group firm first acquired a company that in the past was linked to rival billionaire Mukesh Ambani.
Ndtv news english online free#
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