MxMIndia

Tag: JPL

  • The Ministry of Information and Broadcasting has approved the Jagran-Radio City deal

    Radio City 91.1FM is now part of a Jagran Prakashan

    By A Correspondent

     

    Radio City 91.1FM is now officially a part of Jagran Prakashan Pvt. Ltd. The deal was signed off by the Ministry of Information and Broadcasting on Friday (May 28).

     

    Apurva Purohit

    While being a part of Jagran family will enable Radio City to offer a more comprehensive bouquet of services to the advertisers, the radio network will continue to operate under the management control of its current leadership.

    Talking about the development, Apurva Purohit, CEO, Radio City 91.1FM said “This is great news for both Jagran and Radio City and more importantly, signals a desire amongst all stakeholders to see that the FM industry flourishes and grows. I am glad that the approval is in place now.  With this, the pioneer and leader in FM gets to be a part of one of the largest media houses in India. We now look forward to expanding aggressively in the upcoming Phase III and cross leveraging on strengths”

     

    Shailesh Gupta

    Commenting on this, Shailesh Gupta, Director, JPL said, “The deal further consolidates JPL’s leadership position and complements our other businesses of print, OOH, digital and activations. It gives us a greater leverage to provide better solutions to our advertisers.”

     

  • It's now official. Jagran Prakashan Limited has announced its acquisition of NaiDunia, the leading daily of Madhya Pradesh and Chhattisgarh.

    Jagran announces NaiDunia acquisition

    It’s now official. Kanpur-based Jagran Prakashan Limited has announced that it has acquired Suvi Info Management (Indore) Private Limited. Naidunia Media Limited is a subsidiary of Suvi and is engaged in publishing the leading daily NaiDunia in Madhya Pradesh and Chhattisgarh.

    Launched in 1947, NaiDunia has over the years become a major player in the Central Indian states. It has multiple editions — from Indore, Gwalior, Jabalpur and Bhopal in MP and Raipur and Bilaspur in Chhattisgarh.

    Said Mr Mahendra Mohan Gupta, Chairman and Managing Director of Jagran, “This was a logical market expansion for us and enables  us to strengthen our presence in Central India. Nai Dunia is a newspaper with a very strong team and has demonstrated editorial excellence over the last decade.”

    According to a Jagran communique, NaiDunia’s current circulation base is around half a million copies per day with the readership growing 2.6 times over the last five years.

    For the cash-rich Jagran group, the NaiDunia acquisition follows that of Mid-Day two years back. The inorganic growth process will continue, a source close to the development had told MxMIndia last week. “We are well on our way towards implementing our strategy for inorganic growth through mergers and acquisitions as on the one hand it allows to begin with a sizeable scale with much lesser investment and on the other hand, it saves long gestation period typical of print industry. The acquisition will enable us to leverage our existing network and will have significant operating synergies.”