Recently, Asia’s richest billionaire Gautam Adani has entered the media business. Now Adani seems to be in a mood to increase his dominance in the media business. A Bloomberg report, quoting sources, claimed that the Adani group is exploring possibilities to increase stake in the media business.
According to the report, the possibility of buying stake in some television and print news outlets is being explored. The brainstorming phase is at an early stage. It is possible that the intention may change. However, there has been no official response from the Adani Group on this.
Let us inform that Adani Enterprises Limited, a company of the Adani Group, has forayed into the media industry with AMG Media Network. In March last, the Adani Group acquired a minority stake in Raghav Bahl’s media venture Quintillion Business Media Private Limited (QBM).
Competition with Mukesh Ambani: Even though Gautam Adani may be a new player in the media industry, Mukesh Ambani already has a stake. This means to say that a new competition can be seen between the two billionaires in the coming days. Let us tell you that in the list of richest billionaires, there is a competition between Ambani and Adani.