Adani buying NDTV: Asia’s richest businessman Gautam Adani is going to buy 29.18% stake in NDTV. In the midst of all this, without any discussion with New Delhi Television Limited (NDTV) or its founder-promoters, Radhika & Prannoy Roy, a notice has been served to them by Vishwapradhan Commercial Private Limited (VCPL), stating that That it (VCPL) has acquired the control of RRPR Holding Private Limited (RRPRH).
Adani Group announced its stake in NDTV at around 6.10 pm in the evening. About two hours later, the CEO of NDTV issued an internal mail saying that the news of Adani taking a stake in the media group is shocking. We were neither informed nor discussed about this. The group’s CEO has also spoken of taking regulatory and legal steps in this matter.
Also read: Adani Group to buy 29% stake in NDTV Media Group
This company owns 29.18 percent shares of NDTV. RRPRH has been given two days to transfer all its equity shares to VCPL. The rights exercised by VCPL are based on the loan agreement it entered into with Radhika and Prannoy Roy, the founders of NDTV, in the year 2009-10.
NDTV’s Founders and Company would like to clarify that this exercise of rights by VCPL is done without any input, negotiation or consent of the NDTV Founders. The founders of NDTV have also come to know about this exercise of rights just like NDTV.
Recently, in fact, it was only yesterday that NDTV informed the stock exchanges that there is no change in the shareholding of the founders. NDTV has never compromised on its core work, that is, its journalism. We stand proudly with the same journalism even today.
NDTV is a leading media house in India, which operates three National News Channels – NDTV 24×7, NDTV India and NDTV Profit. It also has a strong online presence and is one of the most followed news handles on social media with over 35 million followers across different platforms.