In addition to the Roys, four additional independent directors also submitted their resignations, which took effect on December 30. According to the announcement, the Roys will keep owning a 2.5% interest in NDTV each.
After Gautam Adani’s conglomerate gained overwhelming control of the media company, New Delhi Television Ltd. declared on Friday that its founders Prannoy Roy and Radhika Roy had resigned as directors.
In addition to the Roys, four additional independent directors also submitted their resignations, which took effect on December 30.
Through its subsidiaries RRPR Holding and Vishvapradhan Commercial, Adani Enterprises Ltd. currently owns 64.72% of NDTV, which operates three national channels.
According to the announcement, the Roys will continue to own a 2.5% interest each in NDTV.
“The company’s new ownership is the reason I’m quitting. I’ve decided to quit for no other compelling reasons”, said Prannoy Roy in his letter to the business, one of India’s most well-known journalists, while announcing his resignation as executive co-chairperson.
The acquisition of NDTV by the third-richest man in the world Gautam Adani will pit him against fellow billionaire Indian Mukesh Ambani, who has also enlarged his media empire.
In a separate statement, Adani said: “The Adani Group is fortunate to further fortify NDTV with world-class infrastructure and people and convert NDTV into a vibrant multi-platform global news organization.”
The beginning of the nationwide talent search ‘Story For Glory’ to identify India’s next big storytellers was recently announced by Dailyhunt, India’s premier local language content platform, and Adani Media Initiatives.
The corporate giant Adani Group is a supporter of the platform known as Adani Media Initiatives. The four-month program, which began on May 2, is currently accepting applications in Hindi or English in the video and written categories. Recurring editions will contain more languages.
The release further stated that Adani Group would “strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform.”
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