The Adani Group, led by billionaire Gautam Adani, continues its strategic expansion into the media industry with the acquisition of a majority stake in news agency IANS India Pvt Ltd. The move signifies Adani’s growing interest in the media sector, following previous acquisitions such as Quintillion Business Media and a significant stake in NDTV.
Adani Enterprises, the entity overseeing the Adani Group’s media ventures, made the acquisition through its subsidiary, “AMG Media Networks Ltd.” According to a regulatory filing, AMNL has successfully acquired a 50.50% stake in IANS India Pvt Ltd. The financial details of the transaction have not been disclosed as of now.
Adani’s entry into the media industry commenced in March of the previous year with the acquisition of Quintillion Business Media, the operator of the business and financial news digital media platform BQ Prime. Subsequently, in December, the group acquired a nearly 65% stake in the broadcaster NDTV. These strategic media moves are orchestrated through AMNL, solidifying Adani’s presence in the media landscape.
As per the regulatory filing, IANS reported a revenue of Rs 11.86 crore in the fiscal year 2022-23. The acquisition enables AMNL to exercise operational and management control over IANS, appointing all directors and solidifying its position as a subsidiary of AMNL.
Gautam Adani, a first-generation entrepreneur who started as a commodities trader in 1988, has successfully diversified the Adani Group into India’s largest private player in infrastructure. The group has significant interests in ports, airports, coal production, energy distribution, data centers, and recent ventures into cement, copper, and telecommunications, marked by the acquisition of 5G spectrum for a private network.
The majority stake acquisition in IANS India Pvt Ltd is a strategic move by the Adani Group, further expanding its footprint in the media industry. As Adani continues to diversify its business portfolio, the foray into media aligns with the group’s vision for comprehensive growth and influence. The move solidifies Adani’s commitment to shaping the narrative in the media landscape and signifies its position as a major player in India’s evolving media sector.