Adani Group takes full ownership of IANS
What's the story
Billionaire Gautam Adani's conglomerate has acquired the remaining 24% stake in Indo-Asian News Service (IANS), a leading multi-language news agency in India. The acquisition was made through AMG Media Networks Ltd, the media subsidiary of Adani Enterprises. The financial details of the transaction have not been disclosed yet. With this move, IANS will become a wholly-owned subsidiary of AMG Media Networks.
Growth trajectory
Media expansion strategy
The Adani Group's foray into the media sector began in 2022, as part of a strategic diversification from its core businesses of ports, energy, and infrastructure. In April 2022, it had formed AMG Media Networks Ltd as its main vehicle for media and publishing acquisitions. The first major acquisition was a stake in Quintillion Business Media Ltd., which runs BQ Prime, a business and financial news digital platform.
Strategic acquisitions
Stake in NDTV and IANS
In December 2022, the Adani Group acquired a controlling stake of around 65% in NDTV, one of India's top news broadcasters. The move was part of its aggressive expansion strategy in the media space. The group had also acquired a majority 50.50% stake in IANS in December 2023, making it a subsidiary of AMG Media Networks.