What Happened to New Delhi Television Limited (NDTV)?

New Delhi Television Limited (NDTV) was established in 1984 by journalist Radhika Roy and economist Prannoy Roy, initially as a production house for news segments for state broadcaster Doordarshan. It played a pivotal role in shaping India's television news landscape, launching the country's first 24x7 news channel in partnership with Star India in 1998, and later becoming an independent broadcasting network with NDTV India and NDTV 24x7 in 2003. Throughout its history, NDTV was often perceived as one of the few relatively critical media outlets of the Indian government, earning it a reputation for independent journalism.

The company faced financial and regulatory pressures over the years, including government scrutiny and litigations. A key turning point came in 2009-2010 when NDTV's promoter company, RRPR Holding Pvt Ltd, took an interest-free loan of over ₹400 crore from Vishvapradhan Commercial Private Limited (VCPL) in exchange for warrants that allowed VCPL to acquire a significant stake in NDTV. This loan agreement became central to the Adani Group's eventual takeover.

In August 2022, the Adani Group announced its indirect acquisition of a 29.18% stake in NDTV by purchasing VCPL. This move was described by some as a "hostile takeover" as NDTV's founders initially stated it was done without their consent or consultation. Following an open offer to acquire an additional 26% from public shareholders, and subsequent direct share purchases from the Roys, the Adani Group gained full control, becoming the single largest shareholder with a 64.71% stake by December 2022. Prannoy and Radhika Roy resigned from the board, and prominent journalists like Ravish Kumar also departed.

Since the Adani takeover, NDTV has embarked on a transformation strategy. In October 2025, the company successfully completed an oversubscribed rights issue of ₹396 crore, with funds earmarked for expansion, brand-building, debt reduction, and general corporate purposes. This period also saw management changes, including the appointment of Akhil Kumar Gupta as CFO in December 2025 and the re-appointment of an independent director in January 2026. In a strategic shift, NDTV decided to drop plans for launching three high-definition (HD) news channels in January 2026, opting instead to emphasize digital-first strategies and social media distribution.

As of May 2026, NDTV continues its operations under the Adani Group's ownership. However, its financial performance remains under pressure. For the full financial year ended March 31, 2026 (FY26), NDTV reported a consolidated net loss of ₹323.16 crore, a significant widening of approximately 48.2% compared to FY25, despite a 13.6% increase in consolidated revenue from operations to ₹528.29 crore. The company's Q4 FY26 results also showed a widening net loss of ₹98.57 crore. These figures indicate that while revenue is growing, cost pressures continue to impact profitability, raising questions about the effectiveness of its strategic initiatives and its path to financial viability.