Reports on possible buyout of NDTV ‘Factually incorrect,’ states Adani Group

The group stated that there is no such development and commenting on media speculation would be inappropriate, claimed reports

e4m by exchange4media Staff
Updated: Sep 25, 2021 8:43 AM

Adani Group, on rumours of acquisition of NDTV by the group, has clarified to BSE that reports of a possible buyout of media house are ‘factually incorrect. The group also said that fluctuation in the share price of the media house is purely market driven.

The group stated, “This is in response to the clarification sought with reference to the subject mentioned news item. We would like to submit that there is no such development and therefore, the abovementioned news item is factually incorrect. We are unable to comment on media speculation or rumours and it would be inappropriate on our part to do so,” as per media reports.

NDTV had also issued a statement a few days ago denying the rumours on Adani’s taking over. The media house stated that founders Radhika Roy and Prannoy Roy, “are not in discussions now, nor have been, with any entity for a change in ownership or divestment of their stake in NDTV. They individually and through their company, RRPR Holding Private Limited, continue to hold 61.45% of the total paid-up share capital of NDTV."

NDTV’s shares hit 10% upper circuit on rumours of buyout by Adani Group on Monday. Speculations were rife after journalist Sanjay Pugalia roped in by the group as CEO and Editor-in-Chief.

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