Sreenivasan Jain quits NDTV

Journalist Sreenivasan Jain announced on Saturday that he has quit New Delhi Television or NDTV. Jain had been with the television channel since 1995.

“Hi all. An amazing, nearly three-decade long run at NDTV comes to an end today. The decision to resign wasn’t easy, but .. it is what it is. More later,” Jain wrote on Twitter.

Jain has anchored the weekly ground reportage show Truth vs Hype on NDTV 24x7. He has also served as the channel’s group editor and was NDTV’s Mumbai bureau chief from 2003 to 2008. He was also briefly managing editor of NDTV’s business channel, Profit.

Jain’s decision comes in the wake of resignations of journalist Ravish Kumar and senior executives of NDTV, including group president Suparna Singh, following the Adani Group’s takeover of the channel. NDTV founders Prannoy Roy and Radhika Roy had also left the company’s board in December. NDTV’s chief strategy officer, Arijit Chatterjee, and chief technology and product officer, Kawaljit Singh Bedi, have also stepped down from their positions.

In December, Gautam Adani took majority control of NDTV, after founders Prannoy Roy and Radhika Roy sold a 27.26% stake in NDTV to an Adani unit for Rs. 602 crore in several block deals. Adani Enterprises, through its indirect subsidiary, RRPR Holdings, acquired an additional 17.6 million shares of NDTV for Rs. 342.65 apiece from the Roys.

The transaction, which was at a nearly 17% premium to what minority shareholders were offered in an open offer that ended on 5 December, increased Adani’s stake in NDTV to 64.7%.