Anand Bazaar Patrika, the Group that owns English daily The Telegraph, may sell its fortnight business magazine Business World.
According to a company source, the management has decided to wind up this offering by Dec. It wasn’t disclosed who the company is in talks with to sell.
The magazine, a weekly since 1991, had turned fortnightly in February this year.
The source revealed, “The editorial team of the magazine consist of more than 50 members.”
The magazine traditionally has been one of the most famous reads among business news readers, but saw declining readership in the last few quarters as per IRS.
While on one hand, experts feel niche market is shaping up in India, on the other, the industry is witnessing closing down of good products – Marie Clarie, Geo and People are some of the recent examples.
ABP Group has become cautious over its expansion plans. In a latest development, it postponed the launch of its news channel ABP Punjabi.
The English magazine space is highly competitive; in fact, Business Today is the only business magazine that manages to be in the top ten list of IRS English magazine segment.