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Jagran, Mid-Day clarify to BSE on alliance talks reports

09-April-2010
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Jagran, Mid-Day clarify to BSE on alliance talks reports

Jagran Prakashan Ltd and Mid-Day Multimedia Ltd have clarified to the BSE on the news item that had appeared in a few news portals saying ‘Jagran in talks with Mid-Day for strategic alliance’.

Jagran Prakashan Ltd, with reference to a news item that appeared in a leading web portal, said that in pursuing the company’s growth strategy, it kept talking to various media houses to explore the possibilities of equity and non-equity participation based alliances. Accordingly, the company had had discussions with Mid-Day Multimedia Ltd. “Whenever any of such alliances and nature thereof get firmed up, the company will make announcement and inform the exchanges at the earliest available opportunity,” Jagran said in its statement.

Meanwhile, Mid-Day Multimedia Ltd, too, clarified to the BSE that it was in talks with various media partners and examining the possibilities for strategic and operational alliances. In a statement issued, it said, “The company receives various proposals from media players for alliances on a regular basis as it helps both the companies to expand and improve operating efficiencies, capabilities and reach. The company would like to clarify that no specific decision has been taken in this regard.”

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