Billionaire Gautam Adani’s conglomerate, the Adani Group, is making substantial strides in the media sector with its recent acquisition of a majority stake in news agency IANS India Pvt Ltd. This strategic move is part of Adani’s concerted efforts to strengthen its foothold in the media industry, complementing previous acquisitions within the sector.
Unveiling the Acquisition of IANS
Adani Enterprises, the overseeing entity for the group’s media ventures, disclosed in a regulatory filing that its subsidiary, AMG Media Networks Ltd (AMNL), has successfully procured a 50.50% stake in IANS India Pvt Ltd. While the financial specifics of the deal remain undisclosed, this acquisition follows Adani’s initial entry into the media realm in March of the preceding year.
Adani: Media Expansion Journey
The Adani Group’s venture into media commenced with the acquisition of Quintillion Business Media in March, operating the digital media platform BQ Prime, specializing in business and financial news. Later in December, the group secured nearly a 65% stake in NDTV, a prominent broadcaster. AMNL played a pivotal role as the driving force behind these strategic acquisitions.
Despite the undisclosed acquisition cost, the 50.50% stake in IANS signifies a significant move for Adani, underscoring the group’s commitment to diversifying its business portfolio. With influence over various media entities, Adani is positioned to play a more influential role in shaping India’s media landscape.
Adani: IANS’ Business Landscape
IANS India Pvt Ltd reported a revenue of Rs 11.86 crore in the fiscal year 2022-23. The acquisition positions IANS as a subsidiary of AMNL, granting the latter operational and management control. The regulatory filing also emphasized that AMNL would hold the right to appoint all directors of IANS, consolidating decision-making authority.
As part of the acquisition, AMNL entered into a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS. This agreement is crafted to define the inter-se rights of the involved parties regarding IANS. Such legal frameworks are imperative to ensure transparency and smooth governance transitions amid changes in ownership.
 Adani’s Journey of Business Expansion
Gautam Adani, an entrepreneur who initiated his business endeavors as a commodities trader in 1988, has witnessed a transformative trajectory. Over the years, the Adani Group has emerged as the foremost private entity in India’s infrastructure landscape, with an impressive portfolio comprising 13 ports and eight airports. The conglomerate’s diversification extends across various sectors, including coal production, energy distribution, data centers, and recent forays into cement, copper, and the strategic acquisition of 5G telecom spectrum.
Adani’s strategic maneuvers in the media sector coincide with a period of corporate expansions and realignments within India’s media landscape. The infusion of new players and investments is reshaping industry dynamics, with conglomerates seeking to leverage media platforms for broader business objectives.
The expansion of Adani’s media footprint prompts inquiries about regulatory oversight and potential implications for media independence. As conglomerates exert influence over multiple media entities, regulatory bodies face the critical task of ensuring fair competition, upholding ethical journalism practices, and safeguarding editorial independence.
In summary, Adani’s acquisition of a majority stake in IANS highlights the group’s growing influence in the media sector. With control over key media entities, Adani strategically positions itself to shape narratives, influence public opinion, and play a significant role in the evolving landscape of India’s media industry.
