India tycoon Adani in hostile bid for news channel NDTV

Image source, Reuters

The richest man in Asia is trying to take over New Delhi Television.

The multi-billionaires is moving to take a majority stake in the firm.

The company's founders were not involved in the execution of this.

Mr Adani's bid for NDTV, which operates TV channels and websites, has drawn attention because he is seen as being close to the prime minister.

In a statement on Tuesday, AMNL, a unit of Adani Group, said it planned to buy RRPR Holding, which owns 29.1% of NDTV.

If successful, the open offer will give AMNL a majority stake in the news channel.

AMNL's goal to pave the path of new age media across platforms was a significant milestone in the journey of the company.

Mr Pugalia said that AMNL wants to empower Indian citizens, consumers and those interested in India with information and knowledge.

The most suitable broadcast and digital platform to deliver on our vision is NDTV, with its leading position in news and its strong and diverse reach across genres and geographies.

The news channel said it was only made aware of the intentions of Mr Adani on Tuesday.

The journalism ofNDTV has never been compromised. The company said in a statement that they are proud of that journalism. Three national channels are operated by the group.

Adani Group did not reply to the request for comment.

The richest man in Asia is Mr Adani.

Archana Shukla is a business correspondent.

In a television news market which has become more and more dominated by corporations, NDTV has stood its ground.

One of the few media groups that takes a critical view of Mr Modi's government and its policies is the NDTV, founded by media barons.

NDTV has often been in the crosshairs of Mr Modi and his party.

There have been a number of charges against NDTV since he came to power.

Multiple cases have been slapped on the broadcasters by the country's investigative agencies. The majority of these are not resolved.

The Congress has been criticized for cozying up to the NDTV.

The saffron party has refused to participate in interviews and panel discussions on the television station because of its editorial policies.

Since becoming prime minister, Mr Modi hasn't held a press conference, but he has given interviews to a few media channels.

The prime minister and his party have a close relationship with Mr. Adani. There are questions as to whether there is more to the plan than just expanding his empire.