Gautam Adani is now the world's third richest man
Asia's richest man has launched a hostile bid to take over an influential broadcaster in India and gain a firmer footing in the country's vibrant media space. AMG Media Networks, a unit of billionaire Gautam Adani's conglomerate, said in a statement late on Tuesday that it has acquired a 29% stake in New Delhi Television (NDTV) by buying one of the network's major shareholders for an undisclosed amount. It has also set in motion an offer to NDTV shareholders to buy another 26% stake in the broadcaster for $61.77 million, according to filings by the Adani Group to the Mumbai stock exchange. "This acquisition is a significant milestone" for AMG Media Networks, Sanjay Pugalia, the CEO of the company said in a statement. The firm "seeks to empower Indian citizens, consumers and those interested in India, with information and knowledge," he added. NDTV, which operates TV channels and websites, said that the move was carried out without its consent. Adan...