Adani Group takes over BQ-publisher, buys remaining 51 percent stake

Last year, Adani Group bought about 65 percent stake in broadcaster NDTV in December. Earlier the company had purchased the stake of Quintillion Business Media Private Limited. AMG Media had earlier bought a 49 percent stake in Quintillion Business Media Limited (QBML) for Rs 47.84 crore.

BQ Prime was formerly known as Bloomberg Quint. It was a former joint venture between US-based financial news agency Bloomberg Media and Bahl's Quintillion Media. Bloomberg pulled out of the deal in March last year.

Adani said the SPA records the terms of the agreement and the mutual rights and obligations in respect of the acquisition of the remaining 51 percent equity shares of QBML by AMNL from Quintilian Media Limited (QML) and other connected matters. Following this acquisition, QBML will become a wholly-owned subsidiary of AMNL.

Adani Group had established AMG Media Networks to foray into publications, advertising, broadcasting, and multiple types of media networks. Meanwhile, in September 2021, AMG Media Networks appointed veteran journalist Sanjay Puglia to lead its media-focused company Adani Media Ventures. Last year, in May 2022, AMG Media entered into an agreement with Quintillion Media Limited (QML) to acquire QBML.

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