NDTV denies it has been taken over by SpiceJet co-founder
Media company is seen as critical of the Modi government, while Ajay Singh is considered close to the ruling BJP
NDTV has denied reports that SpiceJet chairman and managing director Ajay Singh has taken over the media company.
A report in The Indian Express said Singh, who played a role in the Bharatiya Janata Party’s (BJP) 2014 poll campaign, had bought a majority holding in the news channel. “Yes, the deal has been finalized and Ajay Singh will take control of NDTV along with editorial rights,” a source said.
However, The Hindu reported that NDTV had denied reports of Singh taking a majority holding. A senior NDTV official said, “Not even a single sentence of these reports is true.”
SpiceJet officials have also denied the change of hands, calling the report “false and baseless.”
The Indian Express report further claimed that a source said Ajay Singh will have a controlling stake in NDTV of around 40% and the promoters Prannoy Roy and Radhika Roy will hold around 20%.
Singh reportedly played a role in the BJP’s 2014 Lok Sabha campaign as a member of the core advertising/campaigning team.
Reports also said that NDTV founders Prannoy Roy, Radhika Roy and promoter RRPR Holding Pvt were being investigated by the Central Bureau of Investigation (CBI) for allegedly concealing a share transaction conducted in 2008.
On June 5, CBI raids targeted residences of the Roys, which NDTV called a “blatant attack on the freedom of the press.”