Asia’s richest man Adani to buy majority stake in NDTV

Adani Group said Tuesday it will buy a majority stake in NDTV, a high-profile Indian news house, as the billionaire Gautam Adani expands his media ambitions.
AMG Media Networks, Adani’s unit, will indirectly purchase a 29.18% stake in New Delhi Television for about $14.3 million and launch an open offer of about $61.7 million to buy another 26% stake, the Indian conglomerate said.
The acquisition comes as Adani, Asia’s richest man, looks to dive into media properties and compete aggressively with Mukesh Ambani, chairman of oil-to-telecom giant Reliance Industries, on another front.

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