Last year industry witnessed the split of the joint venture of Essel Group and Dainik Bhaskar (DB) Group that together owned equal share in Diligent Media at the time of its inception in 2005 to launch an English daily, DNA. Essel had then bought Bhaskar Group’s entire stake in the JV.
Though the three cities – Ahmedabad, Jaipur and Indore – currently publish the English newspaper under the brand franchise agreement, both organisations contribute to the ad sales and content separately.
In the latest development, DB Corp has decided to expand its footprint in the English print and online genre. It now plans to merge the entire business of the three cities with a new offer.
It is understood that from now on the entire business will be owned by Bhaskar Group. It is estimated that the above decision has been taken after the quarterly meeting of stakeholders and board meeting on July 18 and July 19 respectively.
A highly placed source close to the development, on condition of anonymity, informed, “It is a totally new operation. A new brand is being created which has nothing to do with previous DNA. The entire operations will be absorbed by Bhaskar Group.”
The source further revealed that many names are being tossed for the new entity and the organisation will narrow down on the brand name soon.
Bhaskar Group is a leading name in the markets of Ahmedabad, Indore and Jaipur because of its Hindi and regional offerings and this can be seen as a move towards capturing the English market.
For the record, DB Corp’s total revenue has showed YOY growth of 19 per cent in Q1 FY 2013-14. This also can be seen as a catalyst for the Group to expand its branches in other genres as well.
On the other hand, DNA is focussing on metro cities such as Mumbai, Bangalore and Pune. It is also going to be launched in New Delhi soon.