Is the Bhaskar group exiting DNA?

01 Mar,2012

By A Correspondent

 

Since the day Zee supremo Subhash Chandra took charge of operations at Diligent Media Corporation (DMC), the company that publishes newspaper Daily News and Analysis (DNA), rumours are rife that co-owners Dainik Bhaskar are exiting the JV. This happened two years ago, and nearly every week since then we hear stories about the Bhaskars selling their stake. There have been times when we’ve heard the same about Mr Chandra too, but if a report on the BusinessWorld website is to be believed, the Dainik Bhaskar Group (DB Corp) is in the process of exiting DMC.

 

“Following the exit of the Bhaskar Group, Subhash Chandra and his associates will have 100 per cent ownership of Diligent Media. The road map for decoupling the English language media project, launched in June 2005 as a 50:50 JV, was confirmed by a senior D B Corp executive; but the promoters of the Bhaskar Group, the Aggarwal family, said the deal was “yet to be consummated”, the report adds.

 

(Link: http://www.businessworld.in/businessworld/businessworld/content/Dainik-Bhaskar-Exiting-DNA.html)

 

The Agarwals are known to be hands-on and aggressive newspaper owners. So while the official reason being given was that Mr Girish Agarwal needed to concentrate on the power projects, it was evident that interest had waned. A Bhaskar spokesperson said he was unaware of any such development.

 

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