News Leak Centre

No Fear No Favour

First BJP accused NDTV for loot, now BJP man became partner in loot

Always being at the receiving end for their journalistic style against the present set of government at the centre, and irks the government. Now, reportedly, the major stake of NDTV channel is bought by SpiceJet’s owner and the man coined BJP’s 2014 campaign slogan – Ajay Singh.

A report published in Indian Express, SpiceJet Managing Director Ajay Singh of ‘Ab ki Baar Modi sarkar’ fame has bought a controlling stake of 40 percent in the channel while the promoters – Radhika Roy and Prannoy Roy will hold 20 percent stake. Confirming the same, s source told the paper, “Yes, the deal has been finalized and Ajay Singh will take control of NDTV along the editorial rights.”

The source also said that Ajay Singh will be taking over the withering media channel’s debt of over Rs 400 crore. The total deal is amounting to Rs 600 crore. In fact, the Roys will receive a part of the deal.

According to the stock exchange data, the promoters held 61.45 percent stake in NDTV as of June 2017. Stakes held by public stands at 38.55 percent.

However, SpiceJet officials have blatantly denied the change of hands, calling the report “false and baseless”. No response was available from NDTV.

On June 5, the CBI had raided the Roys’ residence over allegations of “defrauding a bank”. NDTV held the move as a “blatant attack on the freedom of the press” and claimed that the CBI had gone ahead with its investigation on a “shoddy complaint” by a “disgruntled” former NDTV consultant.

The brain behind Prime Minister Narendra Modi’s 2014 campaign tagline, Ajay Singh, took over SpiceJet in 2015 when it was defunct and ailing. Within years, he has turned it into one of the most popular low-cost airlines in India.

Singh’s stint with the media, however, dates back to Pramod Mahajan’s NDA rule when Singh played an active role in launching DD Sports and planning of DD News.

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