Controlled Landing? SpiceJet Ajay who coined ‘Abki Baar Modi Sarkar’ slogan sets to take over NDTV

NEW DELHI: Ajay Singh, co-founder and owner of SpiceJet, who coined the slogan “Abki Baar Modi Sarkar” for the BJP‘s 2014 poll campaign is all set to control of NDTV.

The Indian Express reports quoted a source saying, “Yes, the deal has been finalised and Ajay Singh will take control of NDTV along with editorial rights.”

The report further said that the chairman and managing director of SpiceJet will have controlling stake of around 40% in NDTV while the promoters Prannoy Roy and his wife Radhika Roy will hold 20% in the company.

According to the data available with BSE, the promoter holding in NDTV stood at 61.45 per cent as of June 2017 while public shareholding in the company stands at 38.55 %.

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The source said that Mr. Singh will also pick up NDTV’s debt of over Rs 400 crore and the total deal is valued at around Rs 600 crore.

However, SpiceJet official rubbished the reports of Singh taking control of NDTV as “absolutely false and baseless.” NDTV officials were not available for comment as per the report.

In June, the Central Bureau of Investigation (CBI) carried out searches on the premises of Prannoy Roy and Radhika Roy residence in the national capital for allegedly causing losses to a private bank.

Calling the raids a “blatant attack on the freedom of the press,” NDTV, in a statement, said that the CBI had filed its FIR based on a “shoddy complaint” by a “disgruntled” former NDTV consultant who has not obtained a “single order from the courts.”

The details about the NDTV takeover still remain unclear but the news created a buzz on Twitter.

Here are some reaction on social media.