Almost 50% of Indo-Asian News Service (IANS), a reputable news organization with its headquarters in Delhi, India, has been acquired by Adani Media Networks Limited (AMNL), a company owned by the Adani Group. Following the prior acquisition of NDTV, this calculated action represents Adani Group's second significant media business acquisition.
With its main office in Delhi, IANS is well-known for its news services in both Hindi and English. As a result of this acquisition, AMNL will function as an Adani Group subsidiary, just as it did following the acquisition of NDTV. A sizable shareholding arrangement between AMNL and IANS is part of the deal; it grants AMNL ownership and voting rights in the news organization.
Adani Enterprises reportedly told regulators that AMNL had a shareholding agreement with IANS and Sandeep Bamzai, one of its shareholders. By virtue of the agreement, AMNL is able to maintain control over IANS's administration and operations, including the authority to name its directors. AMNL emphasized that by establishing IANS as its subsidiary, the acquisition aligns with its strategic objectives.
The statement made clear that AMNL will now have complete operational and managerial control of IANS. Furthermore, AMNL would be able to designate directors for the IANS Board.
The action is indicative of Adani Group's ongoing growth in the media industry and its commitment to influencing narratives across a range of media channels. The Adani Group's resolve to fortify its position in the media and expand its sway over Hindi and English news services is demonstrated by the acquisition of IANS.
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