'After 34 years...': Full text of statement by NDTV founders as they divest majority stake to Adani Group

NDTV founders Prannoy Roy and Radhika Roy announced on Friday that they would sell 27.26 per cent of their 32.26 per cent ownership of the news organisation to Adani Group.

This comes at a time when Adani Group became the single largest shareholder in New Delhi Television Ltd (NDTV) through an open offer. After an open offer and an earlier acquisition of a company owned by the founders, Adani already owned more than 37% of NDTV.  

Read the full text of the statement by Radhika and Prannoy Roy :

"We started NDTV in 1988 in the belief that journalism in India was world-class but needed a strong and effective broadcast platform that would allow it to grow and shine.

After 34 years, we believe that NDTV is an institution that has met so many of our hopes and ideals; we are so proud and grateful that across the globe, NDTV is recognized as “India’s and Asia’s Most-Trusted News Broadcaster.

The AMG Media Network, after the recent Open Offer, is now the single-largest shareholder in NDTV. Consequently, with mutual agreement we have decided to divest most of our shares in NDTV to the AMG Media Network.  

Since the Open Offer was launched, our discussions with Mr. Gautam Adani have been constructive; all the suggestions we made were accepted by him positively and with openness.  

Mr. Adani has invested in a brand that is synonymous with Trust, Credibility and Independence, and we are hopeful that he will preserve these values and expand upon them with all the responsibility required of a leader of an organisation of this nature.

We look forward to watching NDTV, and its entire extraordinary team, delivering the next phase of growth, one that India can be proud of."