Prannoy and Radhika Roy are the progenitors of private television news in India. Earlier this week, they exited RRPR, a holding company that owns 29 percent of NDTV, the news network they founded. AMG Media Network, part of the $23 billion Adani Group, has acquired RRPR, triggering an open offer for another 26 percent. When he gets the remaining stake, chairman Gautam Adani, the world’s third-richest person, will own just over 55 percent of one of India’s most trusted news broadcasters. If that happens, the Roys, who still own more than 32 percent and are executive co-chairmen, are required to leave.
Since its inception, NDTV’s power has challenged the establishment on either side of the ideological divide. The Adani group has interests in power, ports, energy and more, all businesses that require it to work closely with governments. That just wouldn’t sit well with Roy-run NDTV. Ravish Kumar, one of the network’s star reporters, has already resigned.