NDTV founders Prannoy Roy and his wife Radhika Roy have sold most of their shares in the TV channel to Gautam Adani. The duo issued a statement praising Gautam Adani of the Adani Group.
The statement by the Roys read, “We started NDTV in 1988 in the belief that journalism in India was world-class but needed a strong and effective broadcast platform that would allow it to grow and shine.
“After 34 years, we believe that NDTV is an institution that has met so many of our hopes and ideals; we are so proud and grateful that across the globe, NDTV is recognized as “India’s and Asia’s Most-Trusted News Broadcaster.”
“The AMG Media Network, after the recent Open Offer, is now the single-largest shareholder in NDTV. Consequently, with mutual agreement we have decided to divest most of our shares in NDTV to the AMG Media network.”
Showering praises on Adani, the Roys said that the billionaire industrialist had positively accepted their suggestions.
“Since the Open Offer was launched, our discussions with Mr. Gautam Adani have been constructive; all the suggestions we made were accepted by him positively and with openness. Mr. Adani has invested in a brand that is synonymous with Trust, Credibility and Independence, and we are hopeful that he will preserve these values and expand upon them with all the responsibility required of a leader of an organisation of this nature<” the statement read.
The statement concluded, “We look forward to watching NDTV and its outstanding reporters, producers and the entire extraordinary team at NDTV delivering the next phase of growth, one that India can be proud of.”
The Adani Group recently completed the takeover of NDTV, prompting the Roys to resign from RRPR Private Limited, a company that had a considerable stake in NDTV.