In another wave of resignations, three more senior executives of New Delhi Television (NDTV) — including its president Suparna Singh — have quit the media firm. The development follows the acquisition of a majority stake in NDTV by the Adani Group.
The other executives who quit were chief strategy officer Arijit Chatterjee and chief technology and product officer Kawaljit Singh Bedi.
“The company is in the process of putting up a new leadership team which will set a fresh strategic direction and goals for the company,” NDTV said in a regulatory update.
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In an internal mail, NDTV’s newly appointed CEO and editor Sanjay Pugalia also informed the staff about the exit and terming “they have been the pillars of strength for the group and have played important roles in getting the company back to profitability”.
“They will be here for the next few weeks to enable a smooth transition of responsibilities,” the letter added.
In August last year, in an attempt to strengthen media foray, Adani Group had made a bid to acquire a controlling stake in NDTV, a move that was termed as a hostile attempt by the media firm which said it was not aware of the development. The media firm had also alleged that the notice was issued without any discussions with NDTV or its founder-promoters.
The group, helmed by Asia’s richest man Gautam Adani, was making its media foray through a group firm AMG Media Networks (AMNL).
NDTV had said that it was served a notice by the Vishvapradhan Commercial Pvt Ltd (VCPL), an Adani Group company, stating the latter had exercised its rights to acquire the 99.50% control of RRPR Holding Pvt Ltd (RRPRH), a promoter group company of NDTV. RRPRH, which owns 29.18% of NDTV, was asked to transfer all its equity shares to VCPL within two days.
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Later on November 29, founders Prannoy Roy and Radhika Roy had resigned as directors of RRPRH, while Ravish Kumar, a famous anchor with NDTV Hindi, resigned a day later.