Billionaire Gautam Adani has paid an undisclosed sum to acquire Quintillion Business Media Pvt Ltd's remaining 51% ownership, thereby gaining complete control over the digital business news portal managed by Raghav Bahl. The main company of the ports-to-energy conglomerate, Adani Enterprises Ltd., stated in a stock exchange filing that its subsidiary, AMG Media Networks Ltd., "has executed a share purchase agreement for the acquisition of remaining 51 percent stake in QBML," which is the company that runs the digital media platform BQ Prime for business and finance news.

However, it omitted to reveal the transaction's financial specifics. Before acquiring roughly 65% of the broadcaster NDTV in December of last year, Quintillion was Adani's first venture into the Indian news market. Quintillion Business Media Ltd (QBML) was previously acquired by AMG Media for Rs 47.84 crore, representing a 49% share.

Formerly known as Bloomberg Quint, BQ Prime was a joint venture between Bahl's Quintillion Media and US-based financial news service Bloomberg Media. In March of last year, Bloomberg ended that arrangement. "The SPA records the terms of the agreement and inter-se rights and obligations and other connected matters in respect of the acquisition of remaining 51 per cent equity shares of QBML by AMNL from Quintillion Media Ltd (QML)," Adani said.

It added that QBML will become a wholly-owned subsidiary of AMNL after the acquisition. Adani Group had set up AMG Media Networks for its foray into businesses of "publishing, advertising, broadcasting, distribution of content over different types of media networks".

Quintillion Media Ltd (QML) and AMG Media signed a shareholders' agreement in May 2022 for the acquisition of QBML. AMG Media Networks named veteran journalist Sanjay Pugalia to head its media-focused business, Adani Media Ventures, in September 2021.