Adani to buy remaining 51 per cent stake in BQ-publisher Quintillion Business Media

News Network
August 15, 2023

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Billionaire Gautam Adani's group will acquire the remaining 51 per cent stake in Quintillion Business Media Pvt Ltd to take full control of the Raghav Bahl-curated digital business news platform.

Adani Enterprises Ltd, the ports-to-energy conglomerate's flagship firm, in a stock exchange filing, said the board of its subsidiary AMG Media Networks Ltd 'has approved to enter into a binding memorandum of undertaking (MoU) with Quintillion Media Ltd for the acquisition of remaining 51 per cent stake' in the firm which operates the business and financial news digital media platform BQ Prime.

Quintillion was Adani's first bet in the Indian news industry before taking about 65 per cent stake in broadcaster NDTV in December last year.

AMG Media had previously bought a 49 per cent stake in Quintillion Business Media Ltd (QBML) for Rs 47.84 crore.

BQ Prime was earlier known as Bloomberg Quint, a former joint venture between US-based financial news agency Bloomberg Media and Bahl's Quintillion Media. Bloomberg exited that agreement in March last year.

'QBML will become a wholly-owned subsidiary of AMNL' after the acquisition, it said without disclosing the financial details of the deal.

Adani Group had set up AMG Media Networks for its foray into businesses of 'publishing, advertising, broadcasting, distribution of content over different types of media networks'.

In May 2022, AMG Media entered into a shareholders' agreement with Quintillion Media Ltd (QML) for the acquisition of QBML.

In September 2021, AMG Media Networks appointed veteran journalist Sanjay Pugalia to lead Adani Media Ventures, its media-focused company.

'The MoU records the terms of agreement and inter-se rights and obligations and other connected matters in respect of the acquisition of remaining 51 per cent equity shares of QBML by AMNL from QML,' the latest filing said. 

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News Network
June 11,2024

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Bengaluru: A court in Bengaluru has remanded Kannada actor Darshan Thoogudeepa, his long-time friend Pavithra Gowda and 11 others to six days of police custody in connection with the murder of a man from Chitradurga. 

Darshan, 47, an A-lister of Kannada cinema, is accused of orchestrating the kidnapping and murder of 33-year-old Renukaswamy, who allegedly posted lewd messages about Pavithra on Instagram. 

A team of Kamakshipalya police from Bengaluru apprehended Darshan at the Radisson Blu Plaza hotel in Mysuru, his hometown, around 8:30 am on Tuesday. He was subsequently brought to Bengaluru and taken to Bowring and Lady Curzon Hospital for a medical examination. 

By the evening, Darshan, Pavithra and the 11 other suspects were presented before the 24th Additional Chief Metropolitan Magistrate court on Nrupathunga Road. The court granted the police's request to interrogate them in custody for six days. 

Renukaswamy’s body was discovered in a drain near an apartment complex in northwestern Bengaluru's Sumanahalli on the morning of June 9. The following day, four suspects surrendered to the police, claiming they murdered Renukaswamy over a financial dispute. 

Police sources told DH that Renukaswamy was brought from Chitradurga to Bengaluru on June 8, put up in a shed in RR Nagar owned by one of the suspects, and severely beaten. He sustained fatal injuries to his groin and at least 10 other places. His body was then transported approximately 12 km to Sumanahalli, in northwestern Bengaluru, and discarded in a drain. 

As the police dug deeper, a larger conspiracy surrounding the murder was uncovered, leading to suspicion falling on Darshan, the sources explained. 

"We have taken him (Darshan) into custody for the murder of a man named Renukaswamy. The case has been registered at the Kamakshipalya police station," S Girish, Deputy Commissioner of Police (West), said.

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coastaldigest.com news network
June 14,2024

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A 40-year-old expatriate from Karnataka’s Mangaluru had a lucky escape to survive even as a huge fire engulfed an apartment complex in Kuwait, killing over 49 people. 

Praison Roby Peter, who was working as an administrator in a private company for the last seven years, was asleep when the fire started.

“He was on the fourth floor. Fire started from the ground floor when they were asleep at 4 am. Suddenly, the smoke spread to the upper floors. To escape from smoke he jumped from the fourth floor and hence was injured,” said Joy Mathew from the Kuwait Pentecostal Mission Church.

Mathew is working closely with Indians who were injured in the Kuwait tragedy.

Kannadiga among victims

One person from Aland Taluk from Kalaburagi is one among the 45 Indians who lost their life in the Kuwait fire tragedy. 

The deceased has been identified as Vijay Kumar Prasanna (43) and his body is expected to reach Kalaburagi tomorrow. “We are coordinating with the Kochi Airport authorities. Once all the bodies arrive in Kochi, the body of the deceased will be transported to Hyderabad via flight on Friday night. From Hyderabad, the body will be moved to his native village in Aland using a district ambulance. We are hoping that the body will reach the family by early morning on Saturday,” a senior official from the Kalaburagi district administration said.

According to sources in Kalaburagi district administration, Prasanna was working as a driver in a private company in Kuwait for the last ten years. He is survived by his wife and three children, sources revealed. Prasanna is one of the deceased in the Kuwait apartment blaze that killed close to 45 Indians on Wednesday. 

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coastaldigest.com news network
June 20,2024

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Mangaluru, June 20: In a remarkable display of quick thinking, a young girl saved her classmate from electrocution in Ira village, near Mudipu, on the outskirts of Mangaluru.

Sharafiya, a fifth-grade student at the government primary school in Ira, received an electric shock while turning off a fan during lunch break. 

Her classmate, Fatimatul Ashfiya, noticed her leaning motionless against the wall and immediately took action. Fatimatul flung her lunch plate at Sharafiya's hand, breaking the electric contact and preventing further harm. Sharafiya sustained only a minor bruise on her hand.

Sonika, the school's headmistress, praised the girl’s quick response, saying, “When Sharafiya experienced an electric shock, Fatimatul Ashfiya displayed bravery and prevented a potentially fatal incident.”

Fatimatul's father, Mujib Rehman, expressed immense pride in his daughter’s courageous act, acknowledging her life-saving intervention.

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