NDTV Founders Resign From Board After Adani’s Hostile Takeover

The founders of New Delhi Television Ltd. resigned from its board after billionaire Gautam Adani’s conglomerate gained majority control of the Indian broadcaster.

Prannoy Roy and Radhika Roy, the husband-and-wife journalist team who set up the media company in the 1980s, stepped down as directors effective Dec. 30, NDTV said in an exchange filing late Friday. Four other directors also resigned, it said.

The statement cited a “change in ownership and control of the company” as the reason for the departures.

The Adani Group won majority control after the Roys sold 27.26% of their equity in NDTV to ...