Gautam Adani Buys 49% Of Quintillion Business Media For Rs 48 Crores

Gautam Adani’s AGM Media Networks is now 49% stakeholder of the Raghav Bahl’ Quintillion Business Media Pvt Ltd. The Adani firm bought the digital business news platform for Rs 48 crore. Originally announced in May 2022, the acquisition of Quintillion was completed by the subsidiary of Adani Enterprises Ltd. Per the regulatory filing of the transaction was completed on March 27, 2023.

Quintillion Business Media runs Bloomberg Quint, which has been rechristened as BQ Prime. Adani’s AGM Media Network also bought a majority stake in Radhika Roy and Prannoy Roy founded NDTV. After acquiring an additional stake of 27.26% from the exiting founders, Adani is set to control about 65% of the NDTV. Adani’s NDTV acquisition was preceded by the media house being hounded by many litigations. The media house had been a very vocal critic of the regime. Prior to the acquisition, Ravish Kumar excited the venture. Following the acquisition several others followed suit.

Quintillion has a similar story of external pressure and litigation followed by Adani’s bid to seize control of the media venture. The opposition has slammed the Adani move as politically motivated. Critics accuse that whenever a firm or establishment is raided, it is bought by Adani. Here are a handful of reactions from Twitter.

So, is there another pliable medium in the making, or will Adani release a similar statement to the one she gave during the NDTV acquisition? The state of affairs in the majority of media is anyway beyond redemption, even as a handful have transformed into Radio Rwanda.

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