AMG Media Networks raises its stake in NDTV to 64.71%

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Ahmedabad: AMG Media Networks Ltd (AMNL), through its indirect subsidiary RRPR, has acquired 27.26 per cent stake in NDTV from Radhika Roy and Prannoy Roy, resulting in a controlling stake of 64.71 per cent in NDTV by AMNL through its subsidiaries, a statement said.

The Roys continue to hold a 5 per cent stake in NDTV, a welcome presence in NDTV's new chapter, it said.

Gautam Adani, Founder and Chairman of the Adani Group said: "The Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organisation."

"I take this opportunity to thank Radhika Roy and Prannoy Roy for a friendly and seamless transition", said Sanjay Pugalia, CEO, AMG Media Networks Ltd.

"One of the first things we plan to do is to strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform. To grow NDTV's digital reach via greater regional content, new formats, personalisation and interactivity with viewers would require more reporters, producers and editors supported by strong research tools. We will deliver news that really adds value to the lives of Indian citizens and those interested in India."

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