NDTV founder resigns from board after Adani takes control
India’s New Delhi Television Limited (NDTV) said on Friday that its founders Prannoi Roy and Rathika Roy had has resigned from the directorship After billionaire conglomerate Gautam Adani’s conglomerate took control of most of the media companies.
In addition to Royce Four other independent directors also resigned. Effective Dec. 30, NDTV said in a statement.
Adani Enterprises Ltd (ADEL.NS), through its subsidiaries RRPR Holding and Vishvapradhan Commercial, currently owns 64.72% of NDTV, which operates three national channels.
The Roys will continue to hold a 2.5% stake in NDTV, according to a statement.
“I resigned due to a change in ownership of the company. There is no other significant reason for my resignation,” said Prannoy Roy, one of India’s most prominent journalists. said in his letter to the company resigning as co-chairman.
Gautam Adani’s Acquisition of NDTV, Third Richest Person in the World It will put him in direct competition with Mukesh Ambani, an Indian billionaire who has also expanded his media empire.
“The Adani Group has been privileged to support NDTV with its world-class infrastructure and capabilities and transform NDTV into a thriving multi-platform global news organization,” Adani said in a separate statement.
The Adani Group will “strengthen and invest in NDTV newsrooms as a multi-faceted digital multimedia platform,” the statement added.