Adani Group Tightens Grip on Media Landscape with 50.5% stake Acquisition in IANS

In a move solidifying its grip on the Indian media landscape, the Adani Group has acquired a 50.5% stake in newswire agency IANS India Pvt Ltd. The acquisition, announced through a regulatory filing by Adani Enterprises, marks the group's latest foray into the media sector following its previous acquisitions of Quintillion Business Media (BQ Prime) and a significant stake in NDTV.

Key Points of the Deal:

• Adani subsidiary AMG Media Networks Ltd purchases the 50.5% stake from IANS and shareholder Sandeep Bamzai.

• The acquisition grants Adani control over IANS' operations, management, and board of directors.

• This move further strengthens the Adani Group's media portfolio, which now includes IANS, NDTV, and BQ Prime.

Details of IANS:

• Established in 1986, IANS initially served the Indian diaspora in North America before shifting its focus to India and South Asia.

• The news organization reported a turnover of ₹12 crore in FY23, showcasing its established presence in the media landscape.

Adani's Growing Media Presence:

• The IANS acquisition follows the group's March 2022 acquisition of BQ Prime and its December 2023 acquisition of a near-65% stake in NDTV.

• This aggressive expansion highlights Adani's ambitious plans for the media sector.

Financial Context:

• This move comes amid a period of financial turbulence for the Adani Group, which has lost significant market value due to corporate fraud allegations.

• Despite the challenges, the IANS acquisition demonstrates the group's commitment to its media aspirations.

Future Outlook:

• The Adani Group's growing media presence raises questions about potential consolidation and influence within the Indian media landscape.

• The integration of IANS into the Adani portfolio will be closely watched as the group navigates the current economic climate and shapes its media strategy.