Metro Now, the compact daily from Metropolitan Media Company, a 50:50 joint venture between The Times of India and HT Media Ltd, is shutting shop in its current avatar. Company sources have confirmed that Metro Now would now be converted from a daily to a weekly community paper, beginning with the Gurgaon market.
Sources close to the development said that the Gurgaon weekly would hit the stands on January 24, 2009. Sources also informed that the last daily edition of Metro Now would be on January 21, 2009. exchange4media, however, could not independently confirm this date.
Following Gurgaon, Metro Now is also toying with launching a weekly for Noida. Company sources, however, said that the plans for this had not yet fructified.
The precise reason for this change of plan is not known. The speculations of HT pulling out of Metro Now has been doing the rounds for some time now, but sources from Metro Now have rubbished the rumour.
It may be recalled that in November 2008, Kamlesh Singh, who was with Metro Now since its launch in 2007, had quit to join Dainik Bhaskar.
Even as the current Metro Now team would be working on its weekly avatar, it really is a wait and watch game for the employees. Information with exchange4media suggests that no internal announcement on any plans for the employees have been made as yet.
Metro Now was launched in early 2007. Both The Times of India Group and HT Media Ltd are India’s leading media houses and also happen to be competition.