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Tag: Pune Mirror

  • The Lexicon group owned by a local business group runs a slew of businesses including some educational institutes.

    Lexicon Media acquires Pune Mirror

    By Our Staff

    Pune-based Lexicon Media has acquired Pune Mirror from The Times of India group for an undisclosed amount, it is reliably learnt. The Lexicon group owned by a local business group runs a slew of businesses including some educational institutes.

     

    It may be recalled that the Times of India group had announced in early December 2020 that it’s shutting down Pune Mirror and Mumbai Mirror as a daily due to the economic downturn post the Covid-19-led pandemic.

     

    The Sharma – brothers Neeraj and Pankaj, who own Lexicon, plan to restart the paper with effect from March 1, 2021 with most of the existing editorial team. As per information received, there were several other suitors for the 12-year-old newspaper. The paper had launched with much fanfare in April 2008.

    More information is awaited.

  • The Mumbai Press Club issued a statement on the announcement by the Times of India group management on the closure of Mumbai Mirror as a daily and the closure of Pune Mirror

    #Mirrored! Review Closure of Mirror, Guarantee Jobs to All Employees

    By A Correspondent

     

    The Mumbai Press Club issued a statement on the announcement by the Times of India group management on the closure of Mumbai Mirror as a daily and the closure of Pune Mirror.

     

    Here is the statement:

    “The Mumbai Press Club, representing over 2,000 journalists of the metropolis, is shocked and dismayed at the closure announcement of the popular city daily ‘Mirror’ by Bennett, Coleman and Co (The Times Group). A statement circulated by the company on Saturday said the ‘Pune Mirror’ will be entirely shut, while the ‘Mumbai Mirror’ will be converted into a ‘weekly’. There is no indication in the statement on the future of the employees, and we fear the closure announcement will adversely affect more than 150 journalist and non-journalist jobs in Mumbai and Pune.

    “‘Mirror’, launched 15 years ago, filled the niche vacated by an earlier Times Group paper ‘Evening News of India’. In a few years it became part of the urban landscape covering Mumbai’s and Pune’s city-centric angst and problems, as well as its celebrities and entertainment hotspots. Mirror’s popularity made it a big brand; and the advertising it brought in proved its worth in terms of the profit it reaped for the company.

    “Among the reasons given for the closure of the newspapers by BCCL is the economic downturn that has come with the Covid-19 pandemic and the rise in newsprint prices. The BCCL is the largest and most profitable media house in the country with annual revenues of $1.5 billion, and an average of over 30% returns on investment (ROI) in previous years. All businesses have their ups and downs. If you have made good profits, then there are times when you must ride out the losses too. With the easing of the pandemic, one can see the economy and businesses looking up. For a small saving, it is not correct for the company to sacrifice such a powerful city brand and the jobs of so many employees. We urge BCCL to review its decision of closure and keep a good thing going.

    “The Mumbai Press Club also expresses its deep concern at the violation of the law, and the jobs that are at stake with the closure of these publications. Sections 25(O) and 25(F) of the Industrial Disputes Act, 1947 require prior permission of the government before departments and companies are closed, and employees retrenched. No such permission has been sought or taken. Moreover, ‘Mirror’ is a sister concern of the BCCL, and we demand that all the employees of these publications be accommodated in jobs and positions within the organization on the same terms.”

    “This is not the time to put employees on the street, and the BCCL must show its leadership by doing business with a human face. To reiterate our demands:

    1. Review the decision to shut ‘Mirror’ as a daily newspaper and ensure continuation of the big city brand.

    2. Ensure there is no retrenchment and all jobs of journalists and non-journalists are safeguarded.

    3. In case of any rationalization, employees must be accommodated in similar positions in other departments on the same terms of employment.

     

     

  • The Times of India group has decided to cease publication of (Pune) Mirror in Pune and relaunch Mumbai Mirror as a weekly. They will, however, continue to have a strong digital presence

    Mumbai Mirror to shut. To turn into a weekly + digital. Pune Mirror to shut completely

    By A Correspondent
    The creative of one of the ads in a Mumbai Mirror campaign released in September 2019

    If you thought the Indian print media was experiencing the ‘achche din’, pause for a bit. On the afternoon of Saturday, December 5, Mumbai Mirror announced it will shut operations as a daily. Will turn into a weekly, plus a digital presence.Pune Mirror will shut completely.

    The staff has been spoken with. Needless to say, they are shattered. If The Times of India group could be taking this drastic step, then what about the small players?

    Here’s a statement issued by The Times of India Group regarding the Mirror publications in Mumbai & Pune.
    The Statement:

    “Fifteen years ago, the ‘city that never sleeps’ had a new and good reason for staying awake – and for waking up, when it did manage to get some sleep: Mumbai Mirror. Feisty and fearless, energetic and enthusiastic, playful yet punchy, it lived up to its name from the day it was born, mirroring Mumbai in all its myriad moods. It was as local as Mumbai’s locals – the lifeblood that keeps the city on track and moving. The paper became such an integral part of the reader’s life, driving the narrative of the city, that it was decided to extend the experience to Bengaluru, Pune and Ahmedabad.”

    “Sadly, just as the pandemic, lockdown and unprecedented economic crisis have laid low many great ideas and initiatives before they could fully take root, they came as a body blow for the still-young brand. Not only has the newspaper industry been among the hardest-hit in terms of revenues, it has been weighed down by an import duty that has added to newsprint costs. With the long-held hope of a stimulus not materialising and the Indian economy now officially in recession, it is with a heavy heart that the group has decided to cease publication of Mirror in Pune and relaunch Mumbai Mirror as a weekly. They will, however, continue to have a strong digital presence.”

    The statement said further: “Following months of discussions and deliberations, we have made this extremely difficult and painful decision to recalibrate our portfolio of publications. We truly value the contribution of our journalists and other staff towards building such a strong brand in a relatively short time, and thank them for their hard work and great effort.”

  • While Raghunath will head various editorial brands of the group, Saran has been named Chief Editor of Times Internet

    Durga Raghunath & Rohit Saran join Times Internet

    By A Correspondent

     

    Durga Raghunath
    Rohit Saran

    Times Internet has announced the appointment of Durga Raghunath and Rohit Saran to lead its digital properties.

     

    Raghunath has been named Digital Head of Times of India, Mirror Brands (Mumbai Mirror, Pune Mirror, Bangalore Mirror and Ahmedabad Mirror), Newspoint, Gadgets Now and Etimes. She was until recently SVP Growth at Zomato (Dec 2018-Aug 2020) and was previously Founder and CEO of Firstpost and Network18 Digital (2010-14). She has also been CEO, Indian Express Digital (Dec 2017-Dec 2018) and Co-founder and CEO of Juggernaut Books (Sep 2015- Aug 2017).

     

    Meanwhile, Rohit Saran has been named Chief Editor of Times Internet.  He was previously the managing editor for The Times of India (Print) and Executive Editor of The Economic Times (Print). He has held senior editorial positions at the India Today Group where he was Executive Editor of India Today and Editor of Business Today. He also edited The Khaleej Times in Dubai. He was also Editor of the South Asian edition of Harvard Business Review and Scientific American.

     

    Speaking on the announcement, Gautam Sinha, CEO, Times Internet said: “We are excited about our next stage of technology-led relationships with users, content producers and advertisers. Durga’s entrepreneurial energy and experience, and Rohit’s broad editorial exposure and deep understanding make us believe we can set and achieve audacious goals over the next five years. Both senior leaders would report to Times Internet COO Mr. Puneet Gupt.”