Jagran terms Nai Dunia acquisition as 'logical market expansion'

New Delhi: Jagran Prakashan Limited has finally announced that it has acquired Suvi Info Management (Indore) Private Limited (Suvi). Naidunia Media Limited (Naidunia) is a subsidiary of Suvi. Naidunia is engaged in publishing of “Nai Dunia” newspaper in Madhya Pradesh and Chhattisgarh.

Nai Dunia is a leading Hindi daily being published from Madhya Pradesh and Chhattisgarh. The newspaper was launched in 1947 and has, over the years, attained a pre-eminent status as a Hindi daily in the print media in Madhya Pradesh and Chhattisgarh. Naidunia has multiple editions published from Indore, Gwalior, Jabalpur and Bhopal in Madhya Pradesh and Raipur and Bilaspur in Chhattisgarh. Naidunia’s current circulation base is approximately 5 lakh copies per day. Placed amongst the Top 10 Hindi newspapers in India, it has been one of the fastest growing newspapers in the market with a readership growth of 2.6 X over the last 5 years.

On this occasion, Mahendra Mohan Gupta, Chairman and Managaing director of Jagran Prakashan Limited, said, “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 several decades. With the acquisition of Mid Day in 2010 and this acquisition, 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”.

Ernst & Young was the exclusive financial advisor in the transaction.

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