Adani’s media business
Adani Group is taking a minority stake in local digital business news platform Quintillion. This marks billionaire Gautam Adani‘s first bet in the news industry. The news of Adani‘s entry to media was first reported in September last year. Adani Media Ventures had then appointed veteran journalist Sanjay Pugalia to lead the firm. Bloomberg Media in a separate statement said it was ending its equity joint venture with Quintillion in India.
It was not immediately clear whether Adani picked up Bloomberg’s stake. Gautam Adani is one of Asia’s richest alongside Mukesh Ambani, chairman of Reliance Industries.
