In a slew of changes at the Quint Digital Media Limited (The Quint’s parent), Adani Group has entered into a binding term sheet with the digital news company to acquire a minority stake in its indirect subsidiary Quintillion Business Media (QBM). This comes even as Bloomberg Media and Quintillion Media signed a new content licence agreement ending their equity joint venture.
The new agreement with Bloomberg is in line with a restructuring of their partnership in India under Bloomberg Quint, the company said on Tuesday. The two companies will no longer co-produce content but will continue to distribute Bloomberg’s content in India through the licence.
Separately, the proposed transaction with the Adani Group is only for QBM which is a digital business news platform, and not in relation to other digital media/ media tech properties owned by Quint Digital viz. The Quint, Quintype Technologies, thenewsminute and Youthkiawaaz.
QBM is a business and financial news company and…