Nai Dunia acquisition set to be announced

30 Mar,2012

By A Correspondent

 

The much-awaited Nai Dunia acquisition by Jagran Prakashan, which is reported to have been inked a while back, is set to be announced. Nai Dunia insiders tell MxMIndia that discussions with Jagran insiders on sales planning and execution has been happening for around a quarter.

 

The Indore-based group has also suspended its Delhi NCR-Ghaziabad edition which, according to reports, the Jagran group wasn’t keen on acquiring since it is still in investment mode. “The objective is to dominate the regional space and not the high cost Delhi market,” said a source close to the development. “That Nai Dunia was making losses in Delhi NCR is not a negative against the group… even today some high profile publications are in losses, but the promoters continue to invest in them given brighter future prospects.”

 

The deal may be announced formally before the fiscal year-end, the source said. The Delhi NCR-Ghaziabad edition suspension is effective today. The March 29 edition carried a short announcement.

 

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