Adani buys stake in Quintillion Business Media

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Adani buys stake in Quintillion Business Media
07 Mar 2022
6 min read

News Synopsis

Adani Group, headed by billionaire Gautam Adani has taken its first step in the media industry. The Adani Group reportedly has acquired a minority stake in Quintillion Business Media Pvt Ltd. Quintillion Business Media Pvt Ltd is a digital business news platform headed by Raghav Bahl. The sum at which the stake was acquired by the Adani Group has not been revealed. Famous digital news platform BloombergQuint is operated by  Quintillion Business Media Pvt Ltd.  Quintillion Business Media Pvt Ltd is a subsidiary of Quint Digital. Quintillion Business Media in its official statement said: "The proposed transaction with the Adani Group is only for QBM which is a digital business news platform and not in relation to other digital media/media tech properties owned by Quint Digital viz. The Quint, Quintype Technologies, thenewsminute and Youthkiawaaz." Adani Group has been looking to mark its presence in the Media Industry for the past few years. For the same, the Group hired veteran journalist Sanjay Pugalia to head Adani Media Ventures, its media company. Pugalia, CEO, Adani Media Ventures Ltd, in his statement said: "Adani Media Ventures intends to lead the path for new age media across different platforms. The adoption of technology and the increased ability of our nation to consume information has dramatically transformed the way media is expected to disseminate authentic information. This is exactly what Adani Media Ventures (AMV) aims to do."

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