Indian billionaire Adani to boost investing in media

Indian billionaire, Gautam Adani, seeks to expand his media investments as the way like the U.S. billionaire “Elon Musk”.

 Adani diversifies his conglomerate from shipping and coal-mining roots by exploring buying stakes in some local television and print news outlets.

Media is the latest investment target for Adani, 59, in a simmering rivalry with compatriot Mukesh Ambani, 65, as the two compete to invest in India’s $2.7 trillion economy.

It should be noted that Adani Enterprises Ltd. established last month AMG Media Networks, an arm in the business of publishing, advertising, broadcasting, distribution of content over different types of media networks.