SpiceJet owner Ajay Singh to takeover NDTV?
Ajay Singh, the man who coined BJP's 2014 campaign slogan "abki baar Modi Sarkar," is set to takeover NDTV with majority holding in the news channel.
The Indian Express reports quoted a source saying , "Yes, the deal has been finalised and Ajay Singh will take control of NDTV along with editorial rights."
Ajay Singh, chairman and managing director for SpiceJet, will have controlling stake in NDTV of around 40 per cent and the promoters Prannoy Roy and Radhika Roy will hold around 20 per cent in the company.
According to the data available with BSE, the promoter holding in NDTV as of June 2017 stood at 61.45 per cent. Public shareholding in the company stands at 38.55 per cent. The source said 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.
A part of the cash (up to Rs 100 crore) will also go to the NDTV founders Prannoy Roy, Radhika Roy.
However, a SpiceJet official denied the reports of Singh taking control of NDTV. A SpiceJet official said "it's absolutely false and baseless." Messages and emails sent to NDTV officials did not elicit any response.