Deal in limbo

Amar Ujala - Prabhat Khabar deal which seemed to be through is now in limbo. The rumour of the deal not going through has gained credence with group editor of Prabhat Khabar Harivansh during his recent visit to Patna insisting on his team to reduce costs. If the deal is not through then Prabhat Khabar may find itself in turbulent waters and expansion plans may have to be shelved.

Comments

Post a Comment

Popular posts from this blog

Amar Ujala’s Lucknow edition by June end; hopes to be No. 1

This news appeared first at www.afaqs.com Hindi daily Amar Ujala is all set to launch its 18th edition overall and its 11th edition in Uttar Pradesh (UP) in Lucknow in the last week of June. According to market sources, the edition will cover eight other districts of UP in addition to Lucknow: Raibareli, Lakhimpur Kheri, Gonda, Sitapur, Barabanki, Bahraich, Faizabad and Sultanpur. In Lucknow, Amar Ujala will fight it out with the current market leader, Dainik Jagran, which has a circulation of 200,789 copies as per the ABC figures for July-December 2007. According to company insiders in Lucknow, Amar Ujala hopes to be No. 1 in Lucknow from day one – it has more than 210,000 confirmed subscriptions already. The daily will have a cover price of Rs 3.50, at par with Dainik Jagran. HT Media’s Hindustan (with a cover price of Rs 3/ 3.50) is also a strong competitor. As per ABC figures for July-December 2007, Hindustan’s Lucknow edition – also printed from Varanasi and Kanpur – has a circul...
Read more

Recruitment for Hindustan's Gorakhpur edition to begin from September

Sources in the Hindustan say recruitment for its proposed Gorakhpur edition will begin in the month of September. Thus paving the way for many more faces changing their loyalty from one group to another in search of a better opportunity. Bareli edition of the newspaper will be launched somewhere in between September 15 to first week of October. while launch of seperate Ghaziabad edition has been put on hold as the newspaper is in search of space for its proposed unit.
Read more

Amar Ujala to get a strategic partner: Indian Express

Amar Ujala, the fourth largest Hindi daily in terms of readership, is set to get a strategic partner. One of India’s largest regional media groups will acquire an 18 per cent stake in Amar Ujala Publications Ltd (AUPL), the company that publishes the newspaper, it is learnt. Amar Ujala has been in the news for the past two years, ever since private equity firm DE Shaw, which had picked up an 18 per cent stake in AUPL in 2006 for Rs 117 crore, sought an exit and a return of around 25% on its investment. DE Shaw was insistent that AUPL either lists itself or sells to a buyer identified by the private equity firm. When AUPL resisted, DE Shaw dragged the company to court. After a prolonged and messy battle, AUPL agreed to pay DE Shaw for its 18 per cent stake. AUPL has ever since been looking for a strategic investor. The company valued itself at around Rs 850 crore. Subhash Chandra’s Zee Group entered the fray recently, and there were some rumours that Amar Ujala’s promoters wo...
Read more