Adani Group sets up wholly-owned media arm AMG Media Networks
By Lokmat English Desk | Published: April 28, 2022 08:34 PM2022-04-28T20:34:14+5:302022-04-28T20:34:14+5:30
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Adani Enterprises Ltd has entered the media segment with the setting up of a wholly owned subsidiary, AMG Media Networks Ltd.
The new company will “carry on the business of media related activities, including publishing, advertising, broadcasting, distributing etc. of content over different types of media networks”.
According to the Registrar of Companies (RoC), AMG Media Networks has three directors — Pranav Vinod Adani , director at Adani Enterprises, Sanjay Pugalia, CEO & editor-in-chief, Media Initiatives, Adani Enterprises and Sudipta Bhattacharya, the chief technology officer of the Adani Group.
The company, as per its memorandum of association, will develop content for a range of platforms and media. In March, Quintillion Business Media Private Ltd, an indirect subsidiary of Quint Digital had said that Adani Group will acquire a minority stake in it. QBM runs Bloomberg Quint.
'In a statement, the Gautam Adani-led conglomerate announced that AMG Media Networks will commence its business operations in due course. Adani’s latest move will pitch it against Mukesh Ambani’s Reliance Industries that owns Network18, as well as other key players in the business such as Disney-Star India, Times Group and the newly merged Zee and Sony entity.
