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Apology/Clarification

24-January-2004
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Apology/Clarification

This is with regards to our story titled "Sakal dismisses rumours of making an offer to Indian Express" published on our website www.exchange4media.com on 21st January, 2004. The story questioned and quashed a rumour in the industry that Sakal newspaper was in process of negotiating a buy out of Indian Express. The story quotes Mr. Abhijit Pawar of Sakal quashing this rumour.

Senior management at Indian Express Newspaper (Bombay) Ltd. including its Chairman Mr. Vivek Goenka and CEO Mr. Shekhar Gupta have denied any such negotiations or deal or discussions with Sakal or Mr. Pawar.

We wish to clarify and put this on record that it was none of our intention to add credence to the rumour nor malign the image and reputation of Indian Express Group by publishing this story. We regret any damage to Indian Express Group that our story may have caused. We apologise for the same to the Indian Express Group and its Chairman Mr. Vivek Goenka and CEO Mr. Shekhar Gupta.

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