Jagran announces NaiDunia acquisition

02 Apr,2012

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.”

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