On August 23, the Adani Group revealed plans to buy a majority stake in one of India's biggest media holdings, New Delhi Television Ltd (NDTV). The business conglomerate will launch its offer on October 17, and it will last until November 1. The offer could give Gautam Adani an additional 26% stake on top of the 29% previously acquired.
Earlier this year, Adani began investing in media with the creation of AMG Media, but a possible acquisition of a major stake in NDTV would make him one of India's biggest agenda-setters.
“AMG Media Networks Ltd aims to pave the path of new age media across platforms," Sanjay Pugalia, the company’s chief executive officer, said.
The Adani Group controls companies ranging from renewable energy to coal, aerospace, and food processing. The company calls itself a “leading integrated business conglomerate enriching lives, creating sustainable value and empowering India."
Currently, Adani is the richest man in Asia and fourth richest in the world.