A Majority Stake in IANS Has Been Acquired by Adani
In an effort to increase its footprint in the media, billionaire Gautam Adani’s organisation has paid an unknown amount to acquire the bulk of the news agency IANS India Pvt Ltd.
AMG Media Networks Ltd, has acquired a 50.50 per cent stake constituting equity shares of IANS India Pvt Ltd.
When Adani bought Quintillion Business Media, the company that runs the
platform BQ Prime for business and financial news
IANS’s revenue for the fiscal year 2022–2023 (April 2022 to March 2023) was Rs 11.86 crore.
All operational and management control of IANS will be with AMNL and AMNL will have the right to appoint all directors of IANS
In order to establish a private network, it even placed a bid and won the 5G telecom spectrum.