NEW DELHI: Billionaire Gautam Adani‘s group has acquired the remaining 51 per cent stake in Quintillion Enterprise Media Pvt Ltd to take full management of the Raghav Bahl-curated digital enterprise information platform for an undisclosed quantity. Adani Enterprises Ltd, the ports-to-energy conglomerate’s flagship agency, in a inventory trade submitting, stated its subsidiary AMG Media Networks Ltd “has executed a share buy settlement for the acquisition of remaining 51 per cent stake in QBML”, the agency which operates the enterprise and monetary information digital media platform BQ Prime.
It, nonetheless, didn’t disclose the monetary particulars of the transaction.
Quintillion was Adani’s first wager within the Indian information business earlier than taking about 65 per cent stake in broadcaster NDTV in December final yr.
AMG Media had beforehand purchased a 49 per cent stake in Quintillion Enterprise Media Ltd (QBML) for Rs 47.84 crore.
BQ Prime was earlier often called Bloomberg Quint, a former three way partnership between US-based monetary information company Bloomberg Media and Bahl‘s Quintillion Media. Bloomberg exited that settlement in March final yr.
“The SPA information the phrases of the settlement and inter-se rights and obligations and different related issues in respect of the acquisition of remaining 51 per cent fairness shares of QBML by AMNL from Quintillion Media Ltd (QML),” Adani stated.
QBML will change into a wholly-owned subsidiary of AMNL after the acquisition, it added.
Adani Group had arrange AMG Media Networks for its foray into companies of “publishing, promoting, broadcasting, distribution of content material over various kinds of media networks”.
In Could 2022, AMG Media entered right into a shareholders’ settlement with Quintillion Media Ltd (QML) for the acquisition of QBML.
In September 2021, AMG Media Networks appointed veteran journalist Sanjay Pugalia to guide Adani Media Ventures, its media-focused firm.
It, nonetheless, didn’t disclose the monetary particulars of the transaction.
Quintillion was Adani’s first wager within the Indian information business earlier than taking about 65 per cent stake in broadcaster NDTV in December final yr.
AMG Media had beforehand purchased a 49 per cent stake in Quintillion Enterprise Media Ltd (QBML) for Rs 47.84 crore.
BQ Prime was earlier often called Bloomberg Quint, a former three way partnership between US-based monetary information company Bloomberg Media and Bahl‘s Quintillion Media. Bloomberg exited that settlement in March final yr.
“The SPA information the phrases of the settlement and inter-se rights and obligations and different related issues in respect of the acquisition of remaining 51 per cent fairness shares of QBML by AMNL from Quintillion Media Ltd (QML),” Adani stated.
QBML will change into a wholly-owned subsidiary of AMNL after the acquisition, it added.
Adani Group had arrange AMG Media Networks for its foray into companies of “publishing, promoting, broadcasting, distribution of content material over various kinds of media networks”.
In Could 2022, AMG Media entered right into a shareholders’ settlement with Quintillion Media Ltd (QML) for the acquisition of QBML.
In September 2021, AMG Media Networks appointed veteran journalist Sanjay Pugalia to guide Adani Media Ventures, its media-focused firm.
