4 May 2024: In the past 15 years, corporate giants like Mukesh Ambani’s RIL and Gautam Adani’s Adani Enterprises have utilized various strategies to acquire several prominent media companies, raising concerns about media plurality and independence. On December 30, 2022, Gautam Adani’s Adani Enterprises secured nearly full control of NDTV by acquiring an additional 27.26% stake, bringing his total holdings to 64.71%. Prior to this, Adani’s media company, AMG Media Networks, appointed a new CEO and recruited government-friendly journalists.
Following the takeover of NDTV, Adani set his sights on The Quint, known for its anti-establishment stance. In March 2023, AMG Media Networks acquired a 49% stake in Quintillion Business Media Pvt Ltd, The Quint’s parent company, further consolidating Adani’s influence in the media landscape.
Similarly, Mukesh Ambani’s Reliance Industries Ltd (RIL) has also expanded its media presence, controlling a significant portion of television channels across India. The close ties between corporate giants like Reliance and Adani with the Modi government have facilitated their media acquisitions, raising questions about media independence and diversity.
The government’s inclination towards controlling the media narrative is evident through its frequent intervention in social media platforms and crack-down on journalists critical of government policies. India leads the world in government-ordered takedowns of social media posts, stifling dissent and free expression.
Despite boasting a diverse media market with thousands of newspapers and periodicals published in multiple languages, India’s media landscape is increasingly dominated by corporate interests. The growing corporatization of media has led to a decline in editorial independence, with business considerations overshadowing journalistic ethics.
Advertising revenues play a pivotal role in shaping media content, with media houses prioritizing advertiser interests over editorial autonomy. As a result, news has become commodified, driven more by profit motives than journalistic integrity.
Moreover, the concentration of media ownership in the hands of a few conglomerates poses a significant threat to media plurality and diversity of voices. With powerful conglomerates controlling a significant portion of the media audience, vested interests can easily manipulate the media narrative, undermining democratic principles.
In light of these developments, experts warn of the erosion of media plurality in India and call for greater transparency and accountability in media ownership. The growing influence of corporate interests in the media sector poses a grave threat to democratic values and the freedom of the press.
