Credit: Instagram/Gautam Adani

One of Asia's richest men plans to buy a media company.

Credit: Instagram/Gautam Adani

Adani Group subsidiary AMG Media Networks purchased one of New Delhi Television's key stockholders and now controls 29.18% of the network's shares.

Credit: Instagram/Gautam Adani

AMG bought VCPL from the company's founders over a decade ago for warrants that could be converted into a 29.18% interest in NDTV.

Credit: Instagram/Gautam Adani

AMG stated it will utilize these rights to propose buying 26% more of the news organization. Open bid might be worth $61.77 million.

Credit: Instagram/Gautam Adani

After being broadcast for the first time more than three decades ago, NDTV has grown to become one of the most popular and much discussed news channels in India.

Credit: Instagram/Gautam Adani

The New Delhi-based business said Tuesday that neither it nor its founders had authorized or advised the controlling share transaction.

Credit: Instagram/Gautam Adani

The firm operates not one but two separate television news channels and has a considerable presence on the internet.

Credit: Instagram/Gautam Adani

This acquisition gives AMG a 24% discount on NDTV shares. NDTV's share price rose 5% on Wednesday to a record high.

Credit: Instagram/Gautam Adani

THANKS FOR READING