Adani acquires 50.5% stake in news agency IANS

December 16, 2023

In a major development in the media industry, Adani, the conglomerate known for its presence in various sectors, has acquired a 50.5% stake in the prominent news agency, Indo Asian News Service (IANS). This acquisition comes right after Adani’s recent takeover of NDTV, solidifying its position in the media landscape.

The acquisition of IANS by Adani will lead to a significant change in the company’s operational and management control. Adani-owned Adani Media Network Limited (AMNL) will now have complete authority over IANS, including the right to appoint all directors of the news agency.

With this acquisition, Adani has also gained voting rights in IANS, further strengthening its influence over the organization. The move is expected to have a profound impact on the editorial direction and decision-making process of the news agency.

IANS, founded in 1986, has been a trusted source of news and information for millions of readers across the globe. The agency covers a wide range of topics including politics, business, entertainment, sports, and more. It has a vast network of journalists and correspondents providing comprehensive coverage from various regions.

This acquisition by Adani raises concerns and questions about the future of independent journalism in India. Critics argue that such consolidation of media ownership can lead to a lack of diversity and impartiality in news reporting, potentially compromising the integrity of the fourth estate.

The Adani Group, led by billionaire entrepreneur Gautam Adani, has been expanding its presence in diverse industries over the past decade. From energy and infrastructure to logistics and now media, Adani has been on an acquisition spree, aiming to establish its dominance in key sectors of the economy.

While Adani has been successful in various ventures, the acquisition of NDTV and IANS has faced significant backlash from media watchdogs and journalists’ associations. They raise concerns about the potential for censorship and biased reporting under Adani’s control.

As the media landscape continues to evolve, the concentration of media ownership in the hands of a few powerful entities is a growing concern. It is crucial to ensure that media organizations maintain their independence and adhere to ethical journalism practices to provide unbiased, reliable information to the public.

The impact of Adani’s acquisition on IANS will likely become more apparent in the coming months. It remains to be seen how the news agency will navigate the changing landscape and maintain its credibility amidst the shifting dynamics of media ownership.

For now, the acquisition of a majority stake in IANS by Adani marks a significant turning point in the media industry. It raises questions about the future of media pluralism in India and the potential consequences of concentrated media ownership.

Disclaimer: This article is for informational purposes only. It does not constitute financial or legal advice.

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BREAKING NEWS – After NDTV, Adani acquires 50.5% stake in news agency IANS

All operational and management control of IANS will be with Adani owned AMNL & AMNL will have the right to appoint all directors of IANS.

AMNL has also acquired voting rights in the company IANS… pic.twitter.com/TBNdJzh2SV

— Times Algebra (@TimesAlgebraIND) December 16, 2023

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@TimesAlgebraIND said BREAKING NEWS – After NDTV, Adani acquires 50.5% stake in news agency IANS All operational and management control of IANS will be with Adani owned AMNL & AMNL will have the right to appoint all directors of IANS. AMNL has also acquired voting rights in the company IANS… twitter.com/i/web/status/1…

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