Jagran Prakashan acquires Nai Dunia
One of the largest media conglomerates in the country, Jagran Prakashan Limited, has acquired Suvi Info Management (Indore) Pvt Ltd whose subsidiary Naidunia Media Ltd publishes Hindi daily Nai Dunia in Madhya Pradesh and Chattisgarh.
Nai Duniya, which was launched in 1947, has a current circulation base of approximately 5 lakh copies per day and is placed amongst the Top 10 Hindi newspapers in India.
Mahendra Mohan Gupta, chairman and MD of Jagran Prakashan Limited, said, “This was a logical market expansion for us and enables us to strengthen our presence in Central India. With the acquisition of MiD DAY in 2010 and now this, we are on our way towards implementing our strategy for inorganic growth through mergers and acquisitions.
It allows starting with a sizeable scale, with much lesser investment, and also saves long gestation periods typical of print industry.” He added that the acquisition will enable the group to leverage its existing network, with significant operating synergies.