BloombergQuint Announces Transformational Changes

This is a corporate announcement by Quintillion Business Media Pvt. Ltd., an indirect subsidiary of Quint Digital Media Ltd. and owner of BQ.

BloombergQuint has announced two important changes pertaining to its relationship with Bloomberg and the induction of a new investor in the company.

Launched in 2017, BloombergQuint was conceived as an equity joint venture that combined Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences.

Today, the two owners have announced the restructuring of their partnership in India. The companies have ended their equity joint venture in favor of a new content license agreement.

BloombergQuint will continue to provide readers, viewers and subscribers the best journalism and opinion from across the world alongside its own deep, analytical and expert news and views coverage of the Indian economy, financial markets, business, law and policy - together on an award winning platform.

Meanwhile, the Adani Group will acquire a minority stake in Quintillion Business Media Pvt. Ltd., the owner of BQ and an indirect subsidiary of Quint Digital, a company listed on the BSE.

The closure of the transaction with the Adani Group is subject inter-alia to customary due diligence and definitive documents.

Read more here.