Ravish Kumar quits NDTV

by Subhechcha Ganguly
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A day after the channel’s founders and promoters Prannoy Roy and Radhika Roy left their positions, award-winning journalist Ravish Kumar left NDTV. According to NDTV, the resignation took effect right away. As the Adani Group approached taking over the television network, NDTV founders Prannoy Roy and his wife Radhika Roy resigned from their positions as directors of promoter group vehicle RRPR Holding Private Limited.

Adani Group purchased RRPR, which owned a 29.18% share in the news station. The Roys, however, continue to serve on the news channel’s board and still own 32.26% of it as promoters.The Indian Express quoted Suparna Singh, president of the NDTV Group, as saying, “Few journalists have had such a large-scale social impact as Ravish. This is evidenced by the overwhelmingly positive feedback he has received, the large crowds he draws everywhere, the prestigious awards and recognition he has won both domestically and abroad, and his daily reports, which champion the rights and needs of the underserved.”

AMG Media Networks Limited, an Adani Enterprises wholly-owned company, paid Rs 113.74 crore on August 23 to acquire 100% of the stock holdings in Vishvapradhan Commercial Private Limited, or VCPL. Later on in the same month, the Adani Group declared it will use VPCL to purchase a 29.18% share in NDTV. Radhika Roy and Prannoy Roy had not been given any kind of notice prior to the takeover, according to NDTV at the time.The ports-to-energy conglomerate Adani Group made the decision to make an open offer to purchase an additional 26% stake in NDTV in November. With a 55.18% total stake, the group will be able to acquire NDTV’s ownership rights.

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