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Adani Group-backed NDTV board approves commencement of activities of NDTV Profit

Adani Group-backed NDTV board approves commencement of activities of NDTV Profit

India Blooms News Service | @indiablooms | 28 Nov 2023, 09:19 pm

Mumbai: The board of Adani Group-backed New Delhi Television Tuesday announced the approval to resume the activities for the NDTV Profit channel from December 8, 2023, the company disclosed in a stock exchange filing.

The company had previously informed shareholders on June 1, 2017, about the temporary halt in regular business programming on the business news channel.

It had stated its decision to shift business programming from Profit to the regular business and finance segments on NDTV 24x7.

"NDTV does not rule out reviving a business channel when the circumstances are appropriate," it had said back then, according to ET.

The Adani Group, led by billionaire Gautam Adani, declared the purchase of a 27.26% equity share in NDTV from its founders, Prannoy Roy and Radhika Roy. The transaction was finalized on December 30, 2022, within the block deal window of the NSE.

The Adani Group now possesses a majority stake of 64.71% in the TV news company.

The acquisition of RRPR Holding Pvt Ltd in August 2022 by the Adani Group, indirectly led to a mandatory open offer to acquire an additional 26% of the media company.

The ET report stated that it reported in May this year that Adani Group was planning to launch nine news channels in different Indian languages, its first expansion since acquiring the news organisation.

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