As per the recent tweet, it claims that the Adani Group, led by Gautam Adani, has bought a 49 percent share in Quintillion Business Media Pvt Ltd. On May 13, 2022, the Adani group made public the execution of the shareholders’ agreement via a paper. Moreover, Quintillion Media Limited, Quintillion Business Media Limited, and Quint Digital Media Limited have all been acquired by AMG Media Networks Limited, a part of the Adani group. The deal is subject to the usual closing conditions and clearances. It is important to mention that QMBL and QML are subsidiaries of Quint Digital Media Limited, which operates The Quint and is owned by Raghav Bahl and Ritu Kapur.
According to the sources, we came to know that Quint Digital Media Limited is the owner of English and Hindi portals. QBM is a business and financial news organization that covers information such as the Indian economy, international finance, corporate law and governance, and business news on its platform Bloomberg Quint, among other things. Quint Digital had previously agreed to acquire 100 percent ownership in Quintillion Business Media in November 2021. Adani Group said earlier this year that it will acquire a minor stake in QBM on March 1, 2022.
Raghav Bahl and Ritu Kapur established The Quint in 2015 after leaving Network18. It is worth noting that Raghav Bahl can now be credited with introducing two significant Indian business tycoons to the media. As per the sources, Mukesh Ambani’s Reliance Industries purchased Network18 in 2014, when Raghav Bahl was the company’s Managing Director. As a result, Bahl drew both Ambani and Adani into the Indian media sector.
