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SpiceJet’s Ajay Singh to take control of NDTV: Reports

Speed News Desk | Updated on: 22 September 2017, 12:33 IST

The media giant NDTV has sold its controlling stake to Ajay Singh, co-founder and owner of SpiceJet after the founders of the channel Prannoy Roy, Radhika Roy and promoter firm RRPR Holding Pvt Ltd faced a CBI probe for concealing a share transaction.

The majority shares in the news channel have been taken by Ajay Singh who was also a part of the BJP’s 2014 poll campaign, reported the Indian Express.

A source close to the channel told leading daily that, “Yes, the deal has been finalised and Ajay Singh will take control of NDTV along with editorial rights.”

The source further informed that Ajay Singh will have controlling stake in NDTV of around 40 per cent and the founders Prannoy Roy and Radhika Roy will have around 20 per cent in the company.

The Indian Express report further added that Ajay Singh will also pick up NDTV’s debt of over Rs 400 crore and the total deal is valued at around Rs 600 crore. The Roys will also have a part of the cash (up to Rs 100 crore).

However according to reports in The Hindu, the news of SpiceJet's Ajay Singh taking over majority holding in NDTV have been denied by sources of NDTV. Not only this but the channel will also release a formal statement on the issue by Friday evening.

Earlier a SpiceJet official said in a statement,“It’s absolutely false and baseless.”

First published: 22 September 2017, 9:43 IST