NEW DELHI, Dec 30 (Reuters) – India’s New Delhi Television Ltd (NDTV.NS) stated on Friday its founders Prannoy Roy and Radhika Roy had resigned as administrators after billionaire Gautam Adani’s conglomerate took majority management of the media firm.

Along with the Roys, 4 different impartial administrators additionally resigned, efficient Dec. 30, NDTV stated in a press release.

Adani Enterprises Ltd (ADEL.NS), by subsidiaries RRPR Holding and Vishvapradhan Commercial, now owns 64.72% of NDTV, which runs three nationwide channels.

The Roys will proceed to carry a 2.5% stake every in NDTV, in line with the assertion.

“I am resigning owing to the change in ownership of the Company. There are no other material reasons for my resignation,” Prannoy Roy, one in every of India’s best-known journalists, stated in his letter to the corporate resigning as govt co-chairperson.

The acquisition of NDTV by Gautam Adani, the world’s third-richest particular person, will pit him immediately in opposition to fellow Indian billionaire Mukesh Ambani who has additionally expanded his media empire.

“The Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organisation,” Adani stated in a separate statement.

Adani Group would “strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform”, the assertion added.

Reporting by Aftab Ahmed; Editing by Krishna N. Das

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