Gautam Adani said to be scouting for assets in Indian TV and print media

Adani Enterprises Ltd. established AMG Media Networks, an arm it said would be in the business of 'publishing, advertising, broadcasting, distribution of content over different types of media network'

Indian billionaire Gautam Adani is seeking to boost his media investments in an ambitious expansion plan, according to people familiar with the matter, as he diversifies his conglomerate from its shipping and coal-mining roots.

The Adani group is exploring buying stakes in some local television and print news outlets while a few have approached the conglomerate also to study potential deals, the people said, asking not to be identified discussing confidential information. Deliberations are preliminary and there’s no certainty they will result in a transaction, the people said. 

A representative for the Adani group declined to comment.

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