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.
In 2024, we are looking at full recovery and growth-led investment in Indian printing
Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. It created the category of privately owned B2B print magazines in the country. And by its diversification in packaging, (Packaging South Asia), food processing and packaging (IndiFoodBev) and health and medical supply chain and packaging (HealthTekPak), and its community activities in training, research, and conferences (Ipp Services, Training and Research) the organization continues to create platforms that demonstrate the need for quality information, data, technology insights and events.
India is a large and tough terrain and while its book publishing and commercial printing industry have recovered and are increasingly embracing digital print, the Indian newspaper industry continues to recover its credibility and circulation. The signage industry is also recovering and new technologies and audiences such as digital 3D additive printing, digital textiles, and industrial printing are coming onto our pages. Diversification is a fact of life for our readers and like them, we will also have to adapt with agility to keep up with their business and technical information needs.
India is one of the fastest growing economies in nominal and real terms – in a region poised for the highest change in year to year expenditure in printing equipment and consumables. Our 2024 media kit is ready, and it is the right time to take stock – to emphasize your visibility and relevance to your customers and turn potential markets into conversations.
