In a strategic move to bolster its foothold in the Indian media landscape, the Adani Group, led by billionaire Gautam Adani, has acquired a 50.5% stake in newswire agency IANS India Pvt Ltd. This acquisition marks the group’s third major foray into the media sector in recent times, following its purchases of Quintillion Business Media and NDTV.

The deal, valued at ₹5.1 lakh, grants Adani’s subsidiary, AMG Media Networks Ltd, operational and management control over IANS. Additionally, AMG Media will hold the right to appoint all directors to the IANS board. This move signifies Adani’s intent to actively shape the editorial direction and operations of the newswire agency.

Founded in 1986, IANS initially catered to the Indian diaspora in North America. However, it gradually shifted its focus to India and South Asia, evolving into a full-fledged wire service. With a reported turnover of ₹12 crore in FY23, IANS brings a wealth of experience and regional expertise to the Adani Group’s media portfolio.

Adani’s media ambitions extend beyond IANS. The group also owns Quintillion Business Media, which operates the BQ Prime platform for business and financial news. Additionally, its acquisition of NDTV in December 2023 further solidified its presence in the television broadcasting space.

This latest acquisition comes amidst a period of significant growth for the Adani Group. The conglomerate plans to invest a staggering ₹7 trillion ($84 billion) in infrastructure over the next decade, showcasing its commitment to diversifying its business interests. However, the group has also faced headwinds in recent months, with allegations of corporate fraud impacting its market valuation.

Despite these challenges, Adani’s aggressive expansion in the media sector signals its long-term vision for shaping the Indian media landscape. The acquisition of IANS provides the group with a wider reach and influence, potentially enabling it to exert greater control over news narratives and public discourse.

The implications of this move remain to be seen. While some view it as a positive development, bringing fresh investment and dynamism to the media industry, others raise concerns about potential conflicts of interest and editorial independence. As the Adani Group integrates IANS into its media portfolio, close scrutiny will be paid to its editorial practices and impact on the broader media ecosystem.

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