Pics courtesy newslaundry
New Delhi: Prannoy and Radhika Roy, New Delhi Television Ltd’s founders, have decided to transfer most of their shares in the company to an entity owned by Gautam Adani.
After acquiring the Roys’ stake of 27.26%, Adani’s conglomerate will have control over nearly 65% of the television news network, NDTV’s regulatory filings showed, Reuters reported.
The billionaire already held more than 37% stake in NDTV after an earlier acquisition of the company owned by the Roys.
Radhika and Prannoy will retain a combined 5% stake in NDTV.
“The AMG Media Network, after the recent open offer, is now the single largest shareholder in NDTV. Consequently, with mutual agreement we have decided to divest most of our shares in NDTV to the AMG Media Network,” the founders said in a statement.
“Since the open offer was launched, our discussions with Gautam Adani have been constructive; all the suggestions we made were accepted by him positively and with openness,” they added.
Radhika and Prannoy Roy will retain a combined 5% stake in NDTV.
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