Mumbai: Indian Billionaire Gautam Adani owned Adani Media has acquired a minority stake in Raghav Bahl- controlled digital business news platform Bloomberg-Quint of Quintillion Business Media Pvt Ltd for an undisclosed amount.
“Adani Group has entered into a binding term sheet with BSE-listed Quint Digital Media Ltd to acquire a minority stake in Quintillion Business Media Pvt Ltd (QBM), an indirect subsidiary of Quint Digital,” read the company statement.
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, The News Minute and Youth Ki Awaaz, the company said in a statement.
In September 2021, Adani Group named veteran journalist Sanjay Pugalia, CEO & Editor-in-Chief, to lead the Group’s media initiatives.