Gautam Adani's AMG Media Networks to acquire remaining stakes in Quintillion Business Media

Indian billionaire Gautam Adani-led Adani Enterprises said that its unit AMG Media Networks board has approved the signing of a memorandum of undertaking to buy the remaining 51% stake in Quintillion Business Media, a media company that operates finance and business news platform BQ Prime.

Quint Digital Media is the parent group of Quintillion Business Media. In March last year, the company acquired a 49% stake in BQ Prime parent for Rs 47 crore.

Soon after the acquisition of a 49% stake, Adani went on to acquire a 29.18% stake in NDTV by converting debt owed by the NDTV founders into equity.

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