IANS, known for its Hindi and English news services, will now operate as a subsidiary of AMNL like NDTV.
Adani Group-owned AMG Media Networks Limited (AMNL) has acquired more than 50 percent stake in the news agency Indo-Asian News Service i.e. IANS.
It is known that the headquarters of IANS is in Delhi. After the acquisition of NDTV, this is the second acquisition of Adani Group in the media world.
IANS, known for its Hindi and English news services, will now operate as a subsidiary of AMNL like NDTV.
AMNL has signed a shareholders’ agreement with IANS and has also acquired voting rights in the company. The company said in a statement that the acquisition was “strategic in nature”.
“AMNL has also signed a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS, to settle their mutual rights in respect of IANS,” a filing by Adani Enterprises to the regulator said, PTI reported. Can be recorded. All operational and management control of IANS will rest with AMNL and AMNL will have the right to appoint all the directors of IANS. “As per the stipulated acquisition, IANS is now a subsidiary of AMNL.”
It is noteworthy that after the acquisition of Adani Group, many changes have been made in NDTV during the last year.