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
October 2,2024

Yemeni Armed Forces have launched a series of attacks on Israeli military positions deep inside the occupied territories, in solidarity with Palestinian and Lebanese people amid the Tel Aviv regime’s ongoing offensives in the Gaza Strip and across Lebanon.

Delivering a televised statement broadcast live from the capital Sana’a on Wednesday morning, Yemen’s military spokesman Brigadier General Yahya Saree said the country’s missile units had fired three domestically-developed Quds-5 cruise missiles at the strategic installations.

He added that the missiles managed to strike the designated targets precisely, despite the Zionist regime’s attempts to conceal the losses it sustained in the aftermath of the missile attack.

Saree also hailed the Islamic Republic of Iran’s retaliatory attack, dubbed Operation True Promise II, against Israel, stressing that Yemeni Armed Forces are prepared to participate in any joint military operation against the Zionist enemy in support of the Palestinian and Lebanese nations, and in response to Israeli atrocities.

“The continued US and British support for the Israeli enemy will put their interests in the region in jeopardy. Yemeni Armed Forces will not hesitate to expand their military operations against the Zionist enemy and its sponsors until the ongoing aggression against Gaza stops, the siege on the coastal territory is completely lifted, and the attacks on Lebanon come to an end,” he pointed out.

Yemenis have declared their open support for Palestine’s struggle against the Israeli occupation since the regime launched a devastating war on Gaza on October 7, 2023, after the territory’s Palestinian resistance movements carried out surprise Operation Al-Aqsa Storm against the occupying entity.

The Yemeni Armed Forces have said they will not stop their attacks until unrelenting Israeli ground and aerial offensives in Gaza end.

So far, Israel has killed at least 41,638 Palestinians, mostly women and children, and injured 96,460 others in Gaza.

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News Network
October 8,2024

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A Palestinian prisoners’ rights group says Israeli forces have abducted a total of 108 journalists during violent raids across the occupied West Bank and the Gaza Strip ever since the regime’s onslaught on the besieged coastal territory started more than a year ago.

The Prisoner Support and Human Rights Association, which is also known as Addameer, said in a statement on Monday that at least 58 journalists remain in Israeli custody, including six female journalists and 22 journalists from Gaza whose identities have been confirmed.

Addameer added that at least 16 of the journalists are being held under administrative detention.

An overwhelming majority of Palestinian prisoners are arrested under a quasi-judicial process known as administrative detention, under which Palestinians are initially jailed for six months. Their detentions can then be repeatedly extended for an indefinite period without charge or trial.

Neither the administrative detainees, who include women and children, nor their lawyers are allowed to see the “secret evidence” that Israeli forces say form the basis for their arrests.

Addameer noted that more than 9,000 orders of administrative detention have been issued since October 7 last year, ranging between new orders and renewals, including orders against children and women.

The report comes as another Palestinian journalist was killed in an Israeli airstrike in the northern Gaza Strip on Sunday, bringing the total death toll of journalists killed since October 7 last year to 175.

The government media office in the Gaza Strip in a statement identified the victim as Hassan Hamad, without giving details about the circumstances of his death.

“We condemn in the strongest terms the targeting, killing, and assassination of Palestinian journalists by the Israeli occupation,” it said.

The media office also called on the international community and international organizations to “deter the occupation and prosecute it in international courts for its ongoing crimes.”

Journalists operating in the Palestinian territory are faced with increased dangers as they report on the conflict amidst Israeli ground assaults and airstrikes, disrupted communications, supply shortages, and power outages.

Israel launched the war on Gaza on October 7 last year, after Palestinian resistance groups carried out a surprise retaliatory operation into the occupied territories.

So far, the Israeli war on Gaza has killed at least 41,909 Palestinians, most of them women, children, and adolescents, and injured 97,303 others.

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News Network
October 4,2024

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Mysuru: Chairman of JD(S) core committee and Chamundeshwari constituency MLA G T Devegowda on Thursday expressed his solidarity with Chief Minister Siddaramaiah saying the latter need not resign, while lambasting leaders of his own party and alliance partner BJP, including Union Minister H D Kumaraswamy.

In his speech during Mysuru Dasara inauguration he said that if persons against whom FIR is registered have to resign, many leaders from all the three parties, including Opposition Leader R Ashoka, will have to resign.

“All are sitting in glass houses... Since I know Siddaramaiah well, I am talking about him. At a time when mines and real estate are ruling politics, Siddaramaiah has survived in politics. He has never done any favour,” Devegowda said.

He added, “Allegations against Siddaramaiah are unexpected and accidental. If the Governor and Chief Justice order an investigation, it does not mean that he should resign."

He continued, asking, "Have they told Siddaramaiah to resign or have they asked to imprison him? When a person becomes a Central minister, he or she should realise their dignity and responsibility. Instead of recognising the good work done by Siddaramaiah, they ask him to resign. Will Kumarswamy (facing an FIR) resign? Should Siddaramaiah, who has become CM with a support of 135 MLAs, resign?"

"Opposition leaders are not remembering the good work of earlier CMs Kengal Hanumanthaiah, Veerendra Patil, Ramakrishna Hegde, H D Deve Gowda or S M Krishna. Karnataka is a model state. It is a bad trend to topple an elected government which is doing good work,” he further said.

Devegowda added, “Siddaramaiah is Goddess Chamundeshwari’s ‘Varaputra’ and hence has her blessings during tough times. He won the election in Chamundeshwari Assembly constituency, when the BJP-JD(S) government was in power in 2006. With the blessings of the Goddess, he has held varied positions right from becoming an MLA for the first time in 1983. He presented 15 budgets and has become CM for a second time. He took H C Mahadevappa, a Dalit leader to the state level. Siddaramaiah has the support of Deputy CM D K Shivakumar as ‘Jodeththu’. Blessings of the beneficiaries of guarantee schemes are with him (Siddaramaiah).” 

Siddaramaiah said, “Devegowda was a MUDA member. He knows the truth. Hence, he is saying this. His words have filled strength in me. ‘Satyameva Jayate’, Truth will always triumph.” 

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