Adani acquires 49 pc in Quintillion Business Media for Rs 48 crore
New Delhi, Mar 28: Billionaire Gautam Adani's AMG Media Networks has acquired about a 49 per cent stake in Raghav Bahl-curated digital business news platform Quintillion Business Media Pvt Ltd for about Rs 48 crore.
In a stock exchange filing, Adani Enterprises Ltd said its subsidiary AMG Media Networks Ltd has completed the acquisition which was originally announced in May last year.
The transaction was completed on March 27 for ''Rs 47.84 crore'', it said.
Quintillion Business Media runs the news platform Bloomberg Qunit, now called BQ Prime.
Adani group had set up AMG Media Networks for its foray into businesses of ''publishing, advertising, broadcasting, distribution of content over different types of media networks''.
In May last year, it had signed a shareholders' agreement with Quintillion Media Ltd (QML) and QBML.
In September 2021, it hired veteran journalist Sanjay Pugalia to lead its media company Adani Media Ventures.
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Will Champai Soren become a game-changer for BJP in Jharkhand polls?
Ranchi: Champai Soren, a prominent figure in Jharkhand’s statehood movement, is contesting the 2024 assembly elections from Seraikela, a seat he has consistently held since 1991.
However, there is a surprising shift in his political journey this year. Having resigned from the Jharkhand Mukti Morcha (JMM) earlier this year, Soren is now representing the BJP, a move that could significantly impact the electoral dynamics in the state.
Soren’s switiching is seen as a strategic benefit for the saffron party, which has been working to expand its appeal among Jharkhand’s tribal communities, a demographic traditionally aligned with the JMM. His departure from the JMM, led by Shibu Soren and his son Hemant Soren, was fueled by dissatisfaction with the state government’s policies, which he claimed had failed to address tribal concerns.
Also known as "Jharkhand’s Tiger" for his instrumental role in the statehood movement of the 1990s, Champai Soren has respect and influence among tribal voters. His decision to switch the party could be a turning point in the BJP’s efforts to gain a stronger hold in a state where tribal votes often decide the outcome.
