Indian corporate major Adani Group has decided to launch a media venture. This was confirmed after the company announced the appointment of former Quint Digital Media president Sanjay Pugalia to head the new media initiative.
In an internal circular released by the company, it informed that Sanjay Pugalia has joined Adani Enterprises as Chief Executive Officer and Editor-in-chief to lead the group’s media initiatives. Just a day ago, Quint Digital Media Limited had informed that Sanjay Pugalia has resigned from the posts of President and Editorial Director at the company.
Before joining Quint in 2016, he was associated with CNBC. In his long media career spanning 4 decades, he has worked at various media houses like Zee Media, Star News, Aaj Tak, Business Standard, Navbharat Times and BBC Radio.
The Adani release said that Sanjay Pugalia will report to Pranav Adani, who heads the Agro, Oil & Gas, Coal Trading & Bunkering divisions at Adani Enterprises. He will also work closely with Sudipta Bhattacharya, CEO of Adani Group in North America and also the Chief Technology Officer at the group. Adani Enterprises said that Pugalia will extend his support to the Corporate Communications team.
“We look forward to leveraging Sanjay’s wide ranging expertise in media, communications and branding across the Adani Group’s diverse range of businesses and in our nation building initiatives. We welcome Sanjay Pugalia and his family to the Adani Parivaar and wish him great success in his new role,” the announcement by the company added.
At present it is not known what kind of media venture the Adani Group is launching, but it is speculated that it will be TV and Digital media venture. There are also some rumours that the company will buy an existing news channel.
Adani Group launching a media venture is the latest in the trend of corporate houses entering the media sector. Earlier, Reliance Group had acquired Network18, and The Washington Post was purchased by Amazon CEO Jeff Bezos.