Asia’s richest billionaire, Gautam Adani, now owns the majority shares in one of the most popular news channels of all time – New Delhi Television (NDTV). Last week the business tycoon seized a 29.2% stake in the media house by buying a company backed by former directors and co-founders of NDTV -Radhika Roy and Prannoy Roy.
With an additional 8.24% interest post, Gautam Adani’s stake in NDTV is now 37.44%.
In the dynamic global industry, Adani’s hostile takeover is not new. Media houses and most social media platforms are now acquired by billionaires. Recently, Elon musk also became the owner of the social media giant Twitter.
People are now curious to witness the manipulative activities and influence that will be happening in the near time with this takeover. A few days ago, a renowned NDTV journalist Ravish Kumar resigned, after hinting earlier that he might not.
However, the tables got turned with Adani’s surprising move to grab a majority stake in the media house.
On the work front, Ravish Kumar now will be seen freelancing on his independent YouTube channel, joining the likes of Abhishar Sharma and his squad who left their respective news channels due to external influences and manipulations.
माननीय जनता,
मेरे होने में आप सभी शामिल हैं। आपका प्यार ही मेरी दौलत है। आप दर्शकों से एकतरफ़ा और लंबा संवाद किया है। अपने यू- ट्यूब चैनल पर। यही मेरा नया पता है। सभी को गोदी मीडिया की ग़ुलामी से लड़ना है।
आपका
रवीश कुमार https://t.co/39BKNJdoro— ravish kumar (@ravishndtv) December 1, 2022
While critics are obviously not happy with the hostile takeover of NDTV but another group is celebrating the move.
Former NDTV journalist Barkha Dutt poses wretched questions.
Am confused. When Mukesh Ambani owned 30% of NDTV it was free and when Gautam Adani purchases that 30% its obituary time? Pray, how? So much politicking & humbug in the discourse both for or against, both narratives ignore the elephant in the room- revenue model of TV is broken.
— barkha dutt (@BDUTT) December 1, 2022
However, the netizens pointed out is the Ambani’s didn’t own the company as a whole and exercised control over it, as Adani will. Being the single largest stakeholder gives the billionaire full-fledged control to even nominate the directorial board and that’s an influence Ambani never had on NDTV or its prominent journalists.
Previously, the Roys stated regulatory restrictions to hamper Adani’s takeover. However, SEBI cleared the way for the billionaire, and the founders transferred their entire shareholdings.
According to Adani, the acquisition is more of a ‘responsibility’ than a ‘business opportunity’.