New Delhi: Billionaire Gautam Adani’s group has acquired a majority stake in news agency IANS India Pvt Ltd for an undisclosed sum as the group expands its presence in the media space.

In a regulatory filing, Adani Enterprises — the firm that holds the group’s media interest — said its subsidiary “AMG Media Networks Ltd has acquired a 50.50 per cent stake constituting equity shares of IANS India Pvt Ltd.” The company did not disclose the acquisition price.

Adani had forayed into media business in March last year when it acquired Quintillion Business Media, which operates business and financial news digital media platform BQ Prime. It thereafter in December took nearly 65 per cent stake in broadcaster NDTV.

Press Trust of India