Venu: Is Manoj (Modi) is here (in Delhi) today also, no?
Radia: Yeah, he is here, he is leaving in the afternoon, later part of the afternoon. We are meeting Prannoy (Roy of NDTV) today. We need to support Prannoy, you know… We feel it needs to be supported.
Now, the penny drops.
Money Life, the personal finance magazine run by the investigative journalist Sucheta Dalal, reports that the American investment firm D.E. Shaw has picked up a 14.2% stake in NDTV, providing an exit to another blue chip investor, Goldman Sachs, which held an equivalent stake.
Reports Money Life:
“Interestingly, the D.E. Shaw investment in NDTV has happened in less than two weeks since it joined hands with Reliance Industries Ltd (RIL) to enter the Indian financial services sector. Now we know that Mukesh Ambani has a soft spot for NDTV’s promoters and anchors and that they had previously approached him for an investment.”
Manoj Modi is Mukesh Ambani’s Man Friday. Niira Radia represented Mukesh Ambani and counted NDTV Imagine among her many clients before the 2G scam broke.
M.J. Akbar‘s Sunday Guardian reported in March that Radia was behind the January 2010 launch of a book by bureaucrat-turned-politician N.K. Singh in London, for which Ambani, Venu and NDTV’s Barkha Dutt travelled together on the same plane.
Read the full article: NDTV continues to find buyers
Listen to the conversation: #132 M.K. Venu: July 09, 2009