After the founders of NDTV were found facing CBI enquiry for alleged concealment of share transaction, now reports are comping up that NDTV is changing hands.
According to a report in Indian Express, Ajay Singh, SpiceJet’s co-founder and owner, is set to pick up majority holding in the channel. Sources have confirmed with the leading daily that Ajay Singh, co-founder and owner of SpiceJet who was part of the BJP’s 2014 poll campaign, has picked up majority holding in the news channel.
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, reported Indian Express. “Yes, the deal has been finalised and Ajay Singh will take control of NDTV along with editorial rights,” The Indian Express quoted unidentified officials as saying.
The SpiceJet has denied the takeover, a SpiceJet Official told Indian Express, “it’s absolutely false and baseless.”
Ajay Singh’s pedigree
Ajay Singh bought grounded ModiLuft and then renamed it, and relaunched it as Spicejet. Singh who is an alumnus of Delhi’s St. Columba’s school, Singh is a graduate of IIT Delhi, an MBA from Cornell University and a Bachelor’s degree in Law (LLB) from Law Faculty, University of Delhi.
The chairman and managing director for SpiceJet, Ajay Singh, acquired SpiceJet in January 2015, after which he turned around the fate of SpiceJet. He even coined the 2014 slogan ‘abki baar, Modi sarkar’ for BJP. Singh played a role in 2014 BJP’s Lok Sabha campaign and was part of the core advertising/campaign team. He also served as the Officer on Special Duty (OSD) Pramod Mahajan during the first NDA government.
Ajay Singh also played an active role in the launch of DD Sports and was also behind the planning of DD News. Singh also served on the Board of Delhi Transport Corporation, also prepared a plan to revamp it, and after two-and-a-half years, the fleet rose from 300 to 6000.