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NDTV sold out to member of BJP's 2014 poll campaign team: Report

Friday September 22, 2017 11:48 AM, & Agencies

NDTV Sold Out

New Delhi:
Ajay Singh, co-founder and owner of SpiceJet, who was also the part of the BJP's 2014 poll campaign will take control of NDTV along with editorial rights. NDTV is regarded as one of the leading independent media house in India, famous for its leftist leaning and at times being ciritical of the establishment.

According to the reports, Ajay Singh will control around 40 per cent and the promoters Prannoy Roy and Radhika Roy will hold around 20 per cent in the company.

As per the Bombay Stock Exchange records, the promoter holding in NDTV as on June 2017 stood at 61.45 per cent, and public shareholding in the company is at 38.55 per cent, according to Indian Express.

The report quoting the unnamed source said the total deal is valued at around Rs 600 crore and Ajay Singh will also pick up NDTV's debt of over Rs 400 crore.

When asked if NDTV has been sold to SpiceJet's Ajay Singh, the source said, "Yes, the deal has been finalised and Ajay Singh will take control of NDTV along with editorial rights."

NDTV founders Prannoy Roy, Radhika Roy and promoter firm RRPR Holding Pvt Ltd are facing a CBI probe for allegedly concealing a share transaction.

On June 5 2017, the CBI had raided Roy couple's residence and office in connection with alleged non-payment of bank loan.

Calling the raids a “blatant attack on the freedom of the press,” NDTV, in a statement, said that the CBI had filed its FIR based on a “shoddy complaint” by a “disgruntled” former NDTV consultant who has not obtained a “single order from the courts.”

Ajay Singh was one of the core advertising/campaigning team of the Bharatiya Janata Party (BJP) 2014 election campaign.

During the campaigning of Narendra Modi, credit of 'abki baar Modi Sarkar,' was given to Ajay Singh.

Mukesh Ambani of Reliance Group who is also said to be close to Modi controls other leading media groups in the country.

With NDTV-Ajay Singh reported deal, another leading media house will come in the hands of a pro-establishment group.

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