Gautam Adani Acquires 49% in Quintillion Business Media

BUSINESS

Raghav Bahl’s Quintillion Business Media Pvt Ltd. is now owned by Gautam Adani’s AGM Media Networks, which paid Rs 48 crore to acquire the digital business news platform. The subsidiary of Adani Enterprises Ltd. has completed the acquisition of Quintillion, which was initially announced in May 2022. According to the regulatory filing, the transaction was completed on March 27, 2023.

Bloomberg Quint, now known as BQ Prime, is operated by Quintillion Business Media. Prannoy Roy founded NDTV, and Adani’s AGM Media Network also acquired a majority stake in Radhika Roy. Adani is expected to control approximately 65 percent of NDTV after acquiring an additional stake of 27.26 percent from the departing founders. Adani’s NDTV procurement was gone before by the media house being bothered by numerous prosecutions. The media house had repeatedly voiced its opposition to the regime. Ravish Kumar left the business before the acquisition. Very few others followed the acquisition.

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Quintillion tells a similar story of Adani’s attempt to take control of the media company following litigation and external pressure. The Adani move has been derided by the opposition as being motivated by politics. Critics say that Adani buys every company or establishment that is raided. A few Twitter reactions are listed below.