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Tag: Quintillion Business Media

  • BQ Prime to be rebranded as NDTV Profit

    BQ Prime to be rebranded as NDTV Profit

    Mumbai: BQ Prime channel is all set to be relaunched under a new brand name, NDTV Profit, according to media reports.

    The channel will be rebranded as NDTV Profit and will launch on 8 December, as per close sources.

    BQ Prime was earlier owned by Quintillion Business Media, which was acquired by Adani Group last year.

    NDTV Profit was shut down on 5 June 2018. The decision to pull the plug on the channel, then owned by Prannoy Roy, was taken following mounting revenue losses.

    The announcement regarding the revival of the channel was made in January this year during a town hall held after the takeover of NDTV by Adani Group. 

  • Quint Digital Media records strong growth at Rs 35.55 cr in FY22

    Quint Digital Media records strong growth at Rs 35.55 cr in FY22

    Mumbai: Multi‑brand digital media and media–tech group Quint Digital Media on Tuesday published its standalone and consolidated results for the quarter and full-year ended 31 March 2022.

    The company has recorded strong growth in standalone revenues on a full-year basis of Rs 35.55 crore, which indicates a growth of over 68 per cent. Earnings before interest, taxes, depreciation and amortization (Ebitda) stood at 850 per cent on a full-year basis.

    For the year, profit after tax shows a positive swing of over 300 per cent and the growth momentum is likely to continue in FY22-23. Consolidated operating revenues on a full-year basis stand at Rs 56 crore, indicating 55 per cent growth.

    Coming to the consolidated report, QDML had acquired identified stakes in the digital media and media-tech operations of Quintillion Business Media, Quintype Technologies India Private Limited, Spunklane Media Private Limited and YKA Media Private Limited on 19 January 2022.

    During the quarter ended 31 March 2022, the company had completed the acquisition of identified stakes in the digital media and media-tech operations of Quintillion Business, Quintype Technologies, Spunklane Media and YKA Media. The consolidated results for the full year include the financial performance of the said acquisitions.

  • AMG Media Networks to acquire 49 per cent stake in QBM

    AMG Media Networks to acquire 49 per cent stake in QBM

    Mumbai: AMG Media Networks Ltd, a part of Adani Enterprises Ltd, has signed definitive agreements with Quintillion Media Ltd and Quintillion Business Media Ltd to acquire 49 per cent stake in Quintillion Business Media (QBM). Quintillion Business Media owns and operates an exclusive business and financial news digital media platform.

    AMG Media Networks Ltd is the media arm of Adani Enterprises that carries on business of media related activities including publishing, advertising, broadcasting, distributing of content over different types of media networks. The company is expected to commence its business operations soon and is helmed by Sanjay Pugalia as CEO and editor-in-chief of media initiatives. Pugalia is a veteran journalist who has worked with The Quint, CNBC Awaaz, Zee News, Aaj Tak, Business Standard, NBT and Star News. 

    As per Registrar of Companies (ROC), AMG Media Networks has three directors including Adani Enterprises director Pranav Vinod Adani, Adani Enterprises chief technology officer Sudipta Bhattacharya and Sanjay Pugalia.

    In March, QBM – an indirect subsidiary of Quint Digital – announced that Adani Group would acquire a minority stake in the company. QBM owns and operates the digital platform BloombergQuint now renamed as ‘BQPrime’ that covers business and financial news in India.

  • Adani forays into media biz, acquires minority stake in Quint Digital arm

    Adani forays into media biz, acquires minority stake in Quint Digital arm

    Mumbai: Quint Digital Media, via its wholly owned subsidiary has entered into a binding term sheet with the Adani Group. The business conglomerate will acquire a minority stake in Quintillion Business Media (QBM), an indirect subsidiary of Quint Digital.

    The proposed transaction with the Adani Group is only for QBM which is a digital business news platform and not in relation to other digital media/media tech properties owned by Quint Digital viz The Quint, Quintype Technologies, thenewsminute and Youthkiawaaz.

    “Adani Media Ventures intends to lead the path for new age media across different platforms,” stated Adani Media Ventures Ltd CEO Sunjay Pugalia. “The adoption of technology and the increased ability of our nation to consume information has dramatically transformed the way media is expected to disseminate authentic information. This is exactly what Adani Media Ventures aims to do. I have had the privilege of working with QBM’s talented, credible and diverse team. This relationship between AMV and QBM marks a strong beginning of Adani Group’s foray into Indian media.”

    QBM is a business and financial news company and operates a business news digital platform in India. QBM’s main content is based on the Indian economy, international finance, corporate law and governance and business news, amongst others through its platform Bloomberg | Quint. It has a subsisting content agreement with Bloomberg Television Production Services India.

    “We are delighted to welcome the Adani Group as an investor in QBM,” stated QBM CEO Anil Uniyal. “Given the proven execution record of the Adani group, their support to fulfill the ambitions of QBM will lay the foundation for accelerating the growth of the business and scale of QBM’s high quality content for the Indian audiences.”

  • FIPB refuses to consider Turmeric Vision proposal for contravention of foreign equity of 80%

    FIPB refuses to consider Turmeric Vision proposal for contravention of foreign equity of 80%

    NEW DELHI: Even as it refused to consider a proposal by M/s Turmeric Vision Private Limited on the ground that this does not come within its domain, the Foreign Investments Promotion Board has deferred a proposal by M/s Quintillion Business Media Private Limited seeking approval for the issuance of equity shares to BLOOMBERG L.P.

    With regard to the Quintillion proposal, the Finance Ministry said “the investee company is proposed to be engaged inter alia in the uplinking and broadcasting of a business news television channel and operating the related digital content platform in India”.

    Turmeric Vision Private Limited had sought Post facto approval for contravention of the foreign equity of 80% as approved vide approval letter of even no. FC II 60(10)/91(2010) of 14 June 2010.

    FIPB also deferred a proposal by M/s Tikona Digital Networks Pvt Ltd for approval for the issuance of CCDs thereby increasing foreign equity to 76.73%; and a proposal by Netmagic Solutions Private Limited for increase in the shareholding of NTT Communications Corporation, Japan, in the company from 81.63% to 100%.

    The Board rejected a proposal by M/s Sistema ShyamTeleServices Limited seeking approval for the exit of the resident shareholders and transfer of their holdings to the existing foreign shareholders i.e. M/s Sistema Joint Stock Financial Corporation, Russia and Federal Agency for the State Property Management (Rosimushchestvo), thereby increasing the foreign shareholding in the company from 73.95% to 100% and consequently increasing the foreign shareholding in its downstream company i.e. Shyam Internet Services Limited to 100%.

  • FIPB refuses to consider Turmeric Vision proposal for contravention of foreign equity of 80%

    FIPB refuses to consider Turmeric Vision proposal for contravention of foreign equity of 80%

    NEW DELHI: Even as it refused to consider a proposal by M/s Turmeric Vision Private Limited on the ground that this does not come within its domain, the Foreign Investments Promotion Board has deferred a proposal by M/s Quintillion Business Media Private Limited seeking approval for the issuance of equity shares to BLOOMBERG L.P.

    With regard to the Quintillion proposal, the Finance Ministry said “the investee company is proposed to be engaged inter alia in the uplinking and broadcasting of a business news television channel and operating the related digital content platform in India”.

    Turmeric Vision Private Limited had sought Post facto approval for contravention of the foreign equity of 80% as approved vide approval letter of even no. FC II 60(10)/91(2010) of 14 June 2010.

    FIPB also deferred a proposal by M/s Tikona Digital Networks Pvt Ltd for approval for the issuance of CCDs thereby increasing foreign equity to 76.73%; and a proposal by Netmagic Solutions Private Limited for increase in the shareholding of NTT Communications Corporation, Japan, in the company from 81.63% to 100%.

    The Board rejected a proposal by M/s Sistema ShyamTeleServices Limited seeking approval for the exit of the resident shareholders and transfer of their holdings to the existing foreign shareholders i.e. M/s Sistema Joint Stock Financial Corporation, Russia and Federal Agency for the State Property Management (Rosimushchestvo), thereby increasing the foreign shareholding in the company from 73.95% to 100% and consequently increasing the foreign shareholding in its downstream company i.e. Shyam Internet Services Limited to 100%.