AMG Media had bought a 49% stake in QBML for Rs 47.84 crore earlier in the year, which now gives Adani full control of the digital business news platform.
The Gautam Adani-owned AMG Media Networks has acquired the remaining 51% in Quintillion Business Media Private Limited (QBML). AMG Media had bought a 49% stake in QBML for Rs 47.84 crore earlier in the year, which now gives Adani full control of the digital business news platform.
In a stock exchange filing, Adani Enterprises said its subsidiary AMG Media Networks “has executed a share purchase agreement for the acquisition of remaining 51% in QBML.” Quintillion operates the business and financial news digital media platform BQ Prime.
Consolidating its hold in the media industry, Adani’s company also acquired about a 65% stake in broadcaster NDTV in December last year.
BQ Prime was earlier known as Bloomberg Quint, a former joint venture between US-based financial news agency Bloomberg Media and Raghav Bahl’s Quintillion Media. Bloomberg exited that agreement in March last year.
Quintillion Business Media will now become a wholly-owned subsidiary of AMG. According to the company, the 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”.
AMG had appointed journalist Sanjay Pugalia to head their media organization in September 2021.
Quintillion Business Media is a subsidiary of Quint Digital Media. The deal will not include other digital properties owned by Quint Digital Media, such as news portal thequint.com, Quintype Technologies, the News Minute and Youth Ki Awaaz.
If you are satisfied with your sales, you probably don’t need us!
If you are happy with your equipment, consumables, and software sales to Indian printers, you probably don’t need us. But if you want to grow your sales or improve your marketing, then talk to us. Our research and consulting company, IppStar can assess your potential and addressable markets in light of the competition. We can discuss marketing, communication, and sales strategies for market entry, and for market growth.
For suppliers or service providers with a strategy and budget, I suggest you talk to us about using our hybrid print, web, video, and social media channels to impact your product communication. We are one of the world’s leading B2B publications in the print industry with hands-on practitioner and consulting experience – an understanding of business and financials, and some of the best technical writers. Our young team is ready to travel to meet you and your customers for content.
India’s fast-growing large economy has considerable headroom for print. Get our 2025 media kit and recalibrate your role in this dynamic market. Enhance your visibility and relevance to existing markets and turn potential customers into conversations.
Founded in 1979 as a technical newsletter, Indian Printer and Publisher is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. IppStar [www.ippstar.org] is our Services, Training and Research organization.