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Gautam Adani takes over India’s NDTV

Indian billionaire Gautam Adani is taking control of New Delhi Television Ltd (NDTV) after the company’s founders decided to sell most of their shares.

Mr Adani launched his takeover of the news network four months ago. He already held 37 percent of NDTV and will now hold a controlling interest after founders Radhika and Prannoy Roy agreed to sell 27.36 percent to his AMG Media Network.

The husband-and-wife team will retain a 5 percent stake in NDTV. They founded NDTV as India’s first and largest private producer of news, current affairs and entertainment television in 1988.

“Since the open offer was launched, our discussions with Gautam Adani have been constructive; all the suggestions we made were accepted by him positively and with openness,” the founders said.

Mr Adani is described as the richest person in Asia. He is the chairman and founder of the Adani Group, which has interests in ports, airports, power plants and real estate, among other things.