Adani’s AMG Media Networks set to buy remaining 51% stake in Quintillion Business Media
As per reports, QBML will now be a wholly-owned subsidiary of AMNL
Gautam Adani’s AMG Media Networks has acquired the remaining 51% stake in Quintillion Business Media Pvt Ltd, media networks have reported.
In March, it was disclosed that the Adani group was acquiring 49% stake in the Raghav Bahl-led digital business news portal for Rs 48 crore.
As per reports, QBML will now be a wholly-owned subsidiary of AMNL.
In May, Sanjay Pugalia, CEO, Adani Media Ventures Limited had stated: “Adani Media Ventures intends to lead the path for new age media across different platforms. The adoption of technology and the increased ability of our nation to consume information has dramatically transformed the way media is expected to disseminate authentic information. This is exactly what Adani Media Ventures aims to do. I have had the privilege of working with QBM’s talented, credible and diverse team. This relationship between AMV and QBM marks a strong beginning of Adani Group’s foray into Indian media.”
