Rising newsprint cost is beginning to take its toll, forcing print players to rework their ad rates, cover prices, trimming local editions, and defering launches. Rising newsprint cost is beginning to take its toll, forcing print players to rework their ad rates, cover prices, trimming local editions, and defering launches. Even as the Jagran Prakashan-TV18 joint venture has put its regional language business paper on hold, Business Standard is set to close down its Gujarati editions in Mumbai and Ahmedabad. Akila Urankar, President, Business Standard, has confirmed the news.
Urankar said, “We will be closing down the Gujarati editions in Mumbai and Ahmedabad in the next couple of days. The overall market environment and inflation in newsprint cost are the main reasons behind shutting down these editions. Moreover, the Gujarati edition hasn’t done so well, so it doesn’t make any sense to continue with the same. However, we will continue with the Gujarati website.”
She declined to specify the date of closure of these editions, saying, “I cannot divulge the date as of now as we are working on the same.” She, however, added that Business Standard had no plans to shut down its Hindi editions.
As to why Business Standard had not taken any other alternatives, Urankar said, “The whole advertising market is collapsing due to the current market conditions, even large newspapers are feeling the heat. How will new editions work?”
It may be recalled that Jagran18 Publications Ltd, the joint venture between Jagran Prakashan Ltd and Television Eighteen India Ltd, had earlier this month decided to put on hold the proposed launch of its business paper in regional languages due to the prevailing market conditions.
Nearly all print players have been forced to take alternative measures to share the burden of rising newsprint cost. The Indian Newspaper Society (INS) had earlier this month decided to effect an industry wide increase of 30 per cent in card rates.
Jagran Prakashan, TV18 put regional language business paper on hold
INS moots 30 pc hike in card rates
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