New Delhi: Asia's richest businessman Gautam Adani who is in the process of taking over news broadcaster New Delhi Television Ltd (NDTV) has said that he had invited Prannoy Roy, the channel's founder-owner, to remain as its chair.
In an interview with Financial Times recently, Adani said he viewed the NDTV takeover as a "responsibility" rather than a business opportunity even as he hinted at building a global media organisation.
"(Media) independence means if government has done something wrong, you say it's wrong. But at the same time, you should have courage when the government is doing the right thing every day. You have to also say that," he said.
Adani said he has invited Prannoy Roy, who along with his wife Radhika founded NDTV in 1988, to remain as chair when the acquisition is completed. In August, the Adani group asserted its rights to 29.18 per cent of NDTV after gaining control of Vishwapradhan Commercial Pvt Ltd.
On Tuesday (November 22), it launched an open offer for another 26 percent under Sebi’s regulations relating to share acquisition. It has already received shares worth over 6 per cent of the total equity in response to the open offer which closes on December 5.
Also read: Adani open offer: Nearly 28 lakh NDTV shares tendered by Day 3
The takeover has triggered concerns among journalists and politicians that a change of ownership could undermine the news channel's editorial integrity and can be read as a body blow to independent journalism in India.
The billionaire from Gujarat rejected opposition politicians' allegations that he benefitted from his affinity with Prime Minister Narendra Modi though he acknowledged his group "aligned itself with the government's development priorities.".
Adani Group fortunes have swollen dramatically since 2014 when PM Modi first came to power in the centre. Gautam Adani became the richest person in India and Asia, surpassing the fortune of Reliance Industries Ltd’s Mukesh Ambani.
The 59-year-old Adani’s net worth was pegged at $88.5 billion as against Ambani’s $87.9 billion. Ambani controls Times Group's Times Now and Network18's CNN-News18, the key business rivals of NDTV.
