Pranoy Roy and Radhika sell majority NDTV shares to AMG Media

Pranoy Roy and his wife Radhika Roy, founders of NDTV, have stated that they have decided to divest most of the shares in NDTV to AMG Media Network.

In a statement, the duo said that since the open offer was launched by Gautam Adani, their discussions with “Mr Gautam Adani have been constructive; all suggestions we made were accepted by him positively and with openness.”

The duo stated that the AMG Media Network, after the recent open offer, is now the single-largest shareholder in NDTV. Consequently, they said, with mutual agreement “we have decided to divest most of our shares in NDTV to the AMG Media Network.”

Reminiscing the origin of the news channel, they said: “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 hope and ideals; we are so proud and grateful that across the globe NDTV is recognized as lndia’s and Asia’s Most-Trusted News Broadcaster."

“Mr Adani has invested in a brand lhat is synonymous with Trust, Credibility and lndependence 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,” they said.

The statement ended with a positive note.

“We look forward to watching NDTV, and its entire extra-ordinary team.. delivering the next phase of growth, one that India can be proud of,” said Pranoy and Radhika.