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Hostile media bid shows how Asia's richest can align and dominate a sector

The NDTV acquisition, if successful, would make Adani and Ambani straight-up rivals in a sector for the first time, given Ambani's control of large media assets including news channels

NDTV building
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Photo: Bloomberg

Chris Kay and P R Sanjai | Bloomberg
Soon after Gautam Adani announced his hostile takeover bid for news broadcaster New Delhi Television Ltd., he was congratulated via tweet by a senior executive at the conglomerate helmed by Mukesh Ambani -- Adani’s billionaire rival and his predecessor as Asia’s richest man.
 
The public toast from Parimal Nathwani, director of corporate affairs at Ambani-led Reliance Industries Ltd., hinted at an amicable co-existence, if not cooperation, between the established empire and the rising upstart at its heels. 

In fact, Adani could not have mounted his NDTV bid without at least the knowledge of a couple of close Reliance associates who

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First Published: Sep 28 2022 | 8:57 AM IST

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