NDTV plans to launch 9 news channels in different languages
New Delhi, May 18
Media firm New Delhi Television Ltd (NDTV), now owned by the Adani Group, on Thursday said it plans to launch nine news channels in different Indian languages in phases.
The board of the company, at its meeting held on Thursday, has “approved a proposal to seek the permission of the Ministry of Information & Broadcasting for the launch of nine news channels in different Indian languages in phases,” NDTV said in a regulatory filing.
It will intimate the stock exchanges on the launch date of the said channels post receipt of approval from the Ministry of Information & Broadcasting, it added.
Last year in December, the Adani Group had gained full control of news broadcaster NDTV after it acquired most of the stake of the founders—Prannoy Roy and Radhika Roy—at a premium of almost 17 per cent over the rate it had paid to minority shareholders of the firm.
AMG Media Networks Ltd (AMNL), through its indirect subsidiary RRPR Holding Private Limited, had acquired a 27.26 per cent stake in NDTV, resulting in a controlling stake of 64.71 per cent in NDTV by AMNL through its subsidiaries.
NDTV’s revenue for the financial year ended on March 31, 2023, was at Rs 220.65 crore.
Earlier this month, NDTV in its earnings statement for FY23 had said: “The new management and board are taking steps to invest in content, marketing, and distribution initiatives, to create a strong foundation for long-term growth and scale-up its presence across segments.”
