The Board of Directors at New Delhi Television Limited (NDTV) has approved the proposal to request the Ministry of Information & Broadcasting for permission to launch nine news channels, according to the NSE and BSE.

The meeting took place on May 17 and the company stated that it will notify the stock exchanges of the channel’s launch date once it has received approval from the Ministry of Information and Broadcasting.

This decision comes weeks after the company said in its earnings press release that the new Management and Board are taking steps to invest in content, marketing, and distribution initiatives, to create a strong foundation for long-term growth and scale up its presence across segments.

The company saw tensions rising last year as Adani chief Gautam Adani expressed interest in the company.

After clearing the challenges, the Adani Group now holds about 64.7 percent stake in NDTV through its entities RRPR Holding and Vishvapradhan Commercial.