Guest Column Newsmanic: Newspapers and the importance of underwear – Part I

With recession putting the skids on print media’s brilliant bull run and the digital-age news consumer becoming more of an immediate reality rather than a distant mirage, an old question returns to haunt the industry: Is it over for us? It’s been discussed at various industry seminars just this month. BV Rao adds his two bits in this two-part series.

e4m by BV Rao
Published: Jul 24, 2009 8:08 AM  | 6 min read
Guest Column Newsmanic: Newspapers and the importance of underwear – Part I

It was some time in 1999. The Internet had just hit the country, sweeping everybody off their feet. Revving up and down that new information highway, everybody was busy announcing the death of the newspaper.

In that period of frenzied crystal ball-gazing, one of Mumbai’s Rotary Clubs decided to hold a memorial service for print media. As Resident Editor of Indian Express, Mumbai, I was the print journalist they would commiserate with.

The question came up repeatedly: Is it over for newspapers?

“With apologies to the ladies in the audience,” I had told the Rotary Clubites, “I will respond with a dirty analogy. Fashion changed from the long flowing gowns to full-length gowns, to skirts, to knee length skirts, to minis to micro-minis; from full pants to capris to shorts to hot pants and what have you. But through all this chopping and changing, one thing never went out of fashion: underwear.”

“Newspapers,” I declared with a flourish, “are the underwear of the news business. Intimate, personal and bare essentials, they will never be out of fashion, will never be discarded.”

I don’t know if the audience was as impressed with my line as I was with myself, but the much-feared invasion was over before it began. The Internet bubble burst all too soon. It had come to war unprepared. Without speed (of download) and penetration (of PCs), it did nothing more than shock, awe and perish in its own exuberance.

Largely because it came away unscathed from that attack, print did not feel compelled to change much and returned to business as usual. All the big players, who poured monies into web editions quickly, sucked them out, maintaining bare-bones operations. The would-be conqueror was condemned to life as a parasite of print. (That situation continues even now, though web editions have been spruced up in recent years.)

The second, and the more serious, invasion of print’s news monopoly came almost immediately in the form of 24x7 TV news. It was widely believed that non-stop news would finish what the web couldn’t start: make newspapers irrelevant and hence, unviable. Just the opposite happened. The period of television news explosion also proved to be the golden period of growth for print. If you stack up the top 10 news channel brands against the top 10 newspaper brands, the latter will run away with all the awards for growth in reach, numbers, revenue and profitability in the last 10 years. New launches, more editions, more colour, more pullouts and more pages – all that at less cost to the consumer – meant that print created multiple-newspaper homes. Circulation and readerships soared like never before. India was bucking worldwide trends of severe pressure on circulations. Print didn’t just survive TV news, it thrived.

News channels had the potential to hurt print big, but print got away with little or no damage. Not all of this happened because print offered a planned response to the onslaught of TV, but because providence played its part yet again in the form of economic boom. The TV onslaught was numbed by a decade of rah-rah growth, which ensured there was enough advertising revenue for everybody. Print did concede larger slices of the advertising pie to TV, but the pie itself became so big that the absolute revenues kept going up (again, at a time when the reverse was happening world over).

Here’s perhaps a better way of saying this: If the TV onslaught had happened without the concomitant eco boom, print would have hurt more. It wouldn’t have been able to afford a fraction of the costs of the huge numbers game it played (more editions, more pages and more circulation). It would have been forced to come up with more content innovations rather than marketing innovations. But the economy, along with the rising literacy levels and the fact that we remained, and remain, one step behind the world on PC penetration, ensured that print’s happy story continued.

Print was second time lucky, too.

Luck is never a reliable war weapon, though. In the euphoria of growing numbers, increasing launches and growing advertising revenues, print may have been fooled into believing that it dealt with TV, but it was essentially at war with itself. This war within the medium, rather than across the medium, meant that print made no ‘shift’ in content to deal with television news. No standout content strategy targeted to deal with the fact that print would forever be 24 hours too late. The last serious directional change in content was forced on the industry by the runaway success of (a dumbed down) The Times of India. Neither before then, nor since then, has there been any discernible or deliberate directional shift in content.

No, I am not grudging print the benefits it got out of a good economy, why shouldn’t it? TV brought with it two distinct dangers to print – flight of advertising and staleness of content. At an existential level, the first was the bigger and more immediate problem. Luckily, this problem was tackled effectively by the economy. The bigger threat having been neutralised, print did not pay much attention to the content challenge thrown by TV.

Thus, a good 10 years after TV, newspapers are still content to fill their front pages with yesterday’s regurgitated news. Rather than play to their strength of incisive and exhaustive reportage, they have confined themselves to filling in the blanks left by last night’s prime time. By its very nature, TV news has annexed substantial print territory, but with its prohibitive cost structure, it has remained just an “event management industry” rather than a news generator. TV hardly reports that which does not happen in public domain, whereas print’s ability to dig up that stuff is widely acknowledged, if completely underused right now.

Yet, print chose only the design-and-presentation route to tackle TV rather than lean on its content superiority. When the going was good, it didn’t matter. But now recession is here. It seems like the industry will take a while to recover from this tough turn of fate. And by the time it deals with recession, a new and bigger challenge will be at hand: the digital age. The threat of generations of youth getting by without holding printed news is very real and can only get worse in the next decade.

Print cannot afford to be blasé about its future anymore, you know, the “romance of print will never die” kind of argument. Romance is a strong reason for print’s survival, but it won’t be enough reason. Does that mean I have changed my mind about the longevity and infallibility of underwear?


I’m saying that print would perhaps have been better prepared for the challenges of the digital age if it had been made to sweat a bit more in the TV age.

I’m saying newspapers cannot play the game in the coming decade the way they played it the last decade.

And I’m saying it’s about time we asked ourselves what kind of underwear the digital generation would want to wear…

(More next week on the importance of underwear.)

(Venkat, as the author is called, insists the argument is his own and that no one else, such as exchange4media, should be hauled up for blasphemy.)

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BW Businessworld charts 9 years of Modi government

The exclusive run-through highlights the remarkable achievements, innovations, developments, and a few misses under the NDA government’s tenure

By exchange4media Staff | May 29, 2023 2:18 PM   |   4 min read


On May 30, 2023, the BJP-led central government will complete nine whole years of having won a decisive win in the 2014 Lok Sabha elections

Politics is a landscape that requires constant attention and amendments from time to time for the evolution of a country. Today’s date, India is widely accepted as a global power. However, the recognition didn’t happen overnight. 

On May 30, 2023, the BJP-led central government will complete nine whole years of having won a decisive win in the 2014 Lok Sabha elections. In the past nine years, the global power recognition of India had been methodically created and has been accelerated by the Modi government's political and policy leadership.

In an exclusive run-through, BW Businessworld presents the journey of nine whole years of Narendra Modi-led BJP (Bhartiya Janata Party) government. Moreover, as part of its ninth-anniversary celebrations, the ruling party has planned a series of events to demonstrate the Narendra Modi administration's welfare measures that have improved the lives and standard of living of millions of Indians through a variety of direct and indirect benefits.

The exclusive run-through highlights the remarkable achievements, innovations, developments, and a few misses under the NDA government’s tenure. It also includes some expert opinions from industry experts.

One of the run-through write-ups throws light upon the significant progress of the Modi government in sectors such as roads, highways, railways, aviation, forex reserves, banking including the role of Reserve Bank of India (RBI), stock markets including the performance of BSE and NSE. It also highlights the implementation of several measures targeted at bolstering the economy and reaching the ambitious objective of a $5 trillion GDP. Howsoever, the article also points out areas that require further attention in domains such as Agriculture and Farmers’ welfare, job creation, unemployment, education and skill development, and healthcare infrastructure.

An interesting column by Srinath Sridharan in one of his opinion columns for BW Businessworld consisted of the journey of Modi-led BJP government and its nine years along with its developments and initiatives in an alphabetical order. The initiatives included in the A-Z of nine years incorporates ‘Ayushman Bharat’, digital India, global leadership, Kisan Credit Card (KCC) scheme, and 22 more developments and initiative started under the tenure of the Modi Government. The column also highlighted the ability to look beyond conventional bounds and pioneer novel ideas which Sridharan considered a hallmark of great leadership in the field of governance. It showcased how the Modi administration and party’s dedication demonstrated a creative problem-solving methodology through several ground-breaking initiatives, propelling India towards a new era of prosperity and development.

The run-through of nine years of the Modi government also featured and highlighted the events of initiatives and decisions that could have been implemented in a better and smoother form. Some of the events consisted of demonetisation in 2016, implementation of CAA and NRC in 2019, farm laws in 2020 and its re-appeal in 2021, and the Covid-19 lockdown in 2020 in its first wave and the second wave in 2021. It also throws light upon the launch of PMCARES and its lack of transparency and accountability for the massive amount of money used or allocated by the government.

In another interesting column by S. Ravi on BW Businessworld, decoding the Prime Ministers’ contribution to India’s growth. Ravi focussed on the ‘Pradhan Mantri Jan Dhan Yojana’, which enabled the availability of bank accounts with zero maintenance amount, remittances, insurance services, credit, and pensions. The policy resulted in over 47 crore accounts have been opened under this scheme. Another area of highlight was the introduction of GST in 2017 to curb tax leakages and improvement in the system, resulting in a total gross collection for FY 2022-23 standing at over INR 18 lakh crores. The column also addressed demonetisation and digitalisation as well as the ‘Make In India’ initiative of vaccine, Covishield, and Covaxin during the Covid-19 pandemic, among other initiatives. 

A feature story on the growing foreign relations in the era of Modi government was also submitted. It highlighted the interesting turn of events in foreign policy and how it benefitted India in multiple forms with the growing stature of India as the fastest-growing world economy, be it the Russia and Ukraine crisis or holding the G20 presidency. The feature throws light upon India’s growing relations with its neighbouring countries as well. 

In a guest column by Dr. Brajesh Kumar Tiwari, an associate professor at Jawaharlal Nehru University (JNU) on BW Businessworld, Tiwari highlighted the big challenges for the NDA government in these turbulent times of global uncertainty. Moreover, another feature story decoded the major schemes in the past nine years of the Modi government such as Stand Up India scheme, PMUY, Atal Pension Yojana, Pradhan Mantri Mudra Yojana, and Beti Bachao, Beti Padhao Yojana.

Given the demographic in the regime of the Modi government, BW Businessworld covered all the aspects of the nine years of functioning of the BJP-led government at the centre.

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Times of India Group campaigns bag 11 wins at INMA Global

The campaigns showcased India's achievements in 75 years since Independence

By exchange4media Staff | May 29, 2023 2:18 PM   |   2 min read


TOI’s  30 inspiring stories from across the length and breadth of the country won big at the recently held INMA Global Media Awards.

From India's digital revolution, led by its pathbreaking online payments system, to its endeavours in space, art and conservation and many other fields, the campaign, powered by TOl's extensive network of journalists spread across the country, showcased India's achievements in 75 years since Independence as a continuum of progress while emphasising that this is the best time to be Indian.

The other top winning campaigns included:

#lamHyderabad: A city celebration campaign aimed at showcasing the love and pride of residents in their city, by drawing upon user-generated content that showed the many facets of Hyderabad.

Times Podcast Challenge: Promoted education through technology in Kolkata, asking students to submit their podcasts on specific themes via the Ei Samay Gold platform.

Ek Hobar Utsav (Ei Samay): In these polarising times, the campaign showed the power of 'one' by bringing in heartwarming stories of 'oneness' from various corners of Bengal.

Navbharat and Ei Samay Gold: For driving these podcasts to attain maximum subscribers, this involved creating internal dashboards through which tools such as Google Data Stud and marketing automation platforms were leveraged.

The Art of India Fest 2022: This national platform for showcasing Indian art brought together over 400 artworks by 220-plus artists, ranging from eminent names to students from art colleges at a physical exhibition at India's largest exhibition centre.

Print Ad with Augmented reality - Hyundai Ad: Via a QR code in a print ad, through usage of WebAR technology, an experience of Hyundai's Agile Mobile Robot (called SPOT) was brought alive for the readers of TOI and ET in key cities.

Client Deduplication-innovative Al-driven customer data grouping: The Business Insights team created an in-house machine learning-based tool for client deduplication, creating a base of over 10 years of data with more than 90% accuracy.

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Lokmat Chairman Vijay Darda's new book to be released on 30th May in New Delhi

The launch event will be held at the Constitution Club of India

By exchange4media Staff | May 25, 2023 7:42 PM   |   3 min read

Vijay Darda

Lokmat Media Group Chairman and former member of Rajya Sabha Vijay Darda's new book- Ringside: Up, Close & Personal on India & Beyond  is all set be released on Tuesday, 30 May 2023 at 4.30 pm in the speaker hall of the Constitution Club of India, New Delhi. 

Senior Congress leader and Lok Sabha MP Dr. Shashi Tharoor will release this book. Former media advisor to Prime Minister Dr. Manmohan Singh and former editor Sanjay Baru will also grace the program by being present in this dignified evening.

India Today Television's Consulting Editor and Padma Shri awardee senior journalist Rajdeep Sardesai will discuss his book with Vijay Darda during this programme.

An award-winning journalist, veteran parliamentarian, dynamic entrepreneur and compassionate philanthropist, Vijay Darda straddles several worlds of experience. Born on May 14, 1950 in Yavatmal (Maharashtra, India), his father and freedom fighter Jawaharlal Darda (Babuji), overwhelmed by the country’s independence, named him as ‘Vijay’, meaning victory. He wanted him to fight for the poor and downtrodden, lend voice to the voiceless and contribute to nation building. Darda was groomed as an all-rounder in his school days under the mentorship of Arun Halbe, recipient of the President’s Ideal Teacher Award. 

He developed a flair for painting and poetry, while excelling in hockey and table tennis. He further obtained his Diploma in Journalism and Printing Technology from Mumbai University and completed a Humanities Program on Religion, Conflict and Peace from Harvard University. Vijay Darda was awarded D.Litt. (Doctor of Literature) degree by internationally renowned D Y Patil University at the convocation of the university in Navi Mumbai on 28th March, 2023, at the hands of Maharashtra governor Ramesh Bais and chancellor of Dr D Y Patil University Dr Vijay Patil in the presence Maharashtra Chief Minister Eknath Shinde and dignitaries from all walks of life. He was conferred with the degree for his outstanding work across the fields of journalism, social work, education, politics, philanthropy for the betterment of society. 

Vijay Darda along with his brother Rajendra took up the reigns of Lokmat, a Marathi daily newspaper launched from Nagpur on December 15, 1971. They later introduced Lokmat Times (English) and Lokmat Samachar (Hindi), while ensuring the numero uno position of Lokmat among all Marathi dailies in India with 21.8 million readership. Today, under his chairmanship, it is a leading multi-platform media company with a diversified portfolio of publishing, broadcast, digital, entertainment, community and sports verticals. 

Darda has been conferred with several awards, including Feroze Gandhi Memorial Award (1990-91) presented by former Prime Minister P. V. Narasimha Rao. He headed media institutions like Indian Newspaper Society (INS), Audit Bureau of Circulation (ABC) and was the founder president of South Asian Editors Forum (SAEF). He also has many books to his credit and weekly columns published in various national and regional dailies since decades.

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Paper price reduction to boost profits of Print companies

Industry experts believe it is the reduced global demand for the paper that has led to the reduction in price

By Aditi Gupta | May 24, 2023 8:01 AM   |   4 min read


In a big relief to the print sector, the price of newsprint, which was a cause of worry the last financial year, has dropped by nearly 30%. Industry experts believe that it is the reduced global demand for the paper that has led to the reduction in price.

According to sources, the price of newsprint, which had touched an all-time high of $1000/tonne during the last financial year, has now come down to around $700.  

DB Corp Ltd, in its official statement during Q4, stated that newsprint prices continued its downward trend in Q4 FY 2023 aiding margins and is likely to bring higher benefit in the coming quarters.

“Newspaper newsprint prices, from a high of Rs 63,500/tonne in Q2 FY2023, have come down to Rs 60000/ tonne in Q4 FY2023. Our blended purchase price currently is around Rs 55000/tonne,” it said.

Speaking to exchange4media, Matrubhumi Group’s Managing Director Shreyams Kumar, said, “The reason for the prices coming down is lower consumption level across the globe due to Covid and it has not recovered fully since that time. But it is on the path to recovery.”

“I think the consumption of newsprint in India went down by 40% during Covid. The custom duty is the same but there are rumours that the government is planning to cut it down.”

Sharing a similar view, Amit Chopra, Joint MD, Punjab Kesari, said the price reduction is due to reduced global demand and improved logistic situation and it will improve profitability.

“The price reduction has been going on since mid-last year. The effect is a reduction in cost of printing and not an increase in revenue. Consequently, it will improve profitability.

“The price reduction is due to reduced global demand and improved logistic situation. Earlier the freight costs had gone through the roof due to covid disruptions. Customs duty remains the same. Dollar has only become more expensive since last year,” Chopra said.

Kumar, however, said, the effect of this price drop will be felt only in Q1 of the next financial year.

“Currently the price is 700 USD per tonne. Decreasing the cost of newsprint does not increase the revenue, it only brings down the printing cost. We normally import and keep a stock of newsprint.

“The prices have come down only during the last quarter so the effect of this price drop will show only in Q1 of the next financial year,” he said.

Disruption in the supply chain of newsprint due to the Russia-Ukraine war, compounded with a scarcity of waste paper used in recycling led to the prices going as high as $1000/tonne in 2022.

There has been a gradual dip in the prices from $1000 to $850-900 and now $700.

However, Varghese Chandy, Vice President, Marketing and Sales, Malayala Manorama, had a different take on the scenario.

He said in the last four-five years, the cost of newsprint has gone up by nearly 90% and with dollar exchange right hitting the roof, reduction in newsprint price is not in sight.

“It was as high as $1050 per tonne last year and it is only $900 now. In the last four to five years, the price of newsprint has significantly gone up by around 90%. There is no way that the cost is coming down. It is still very high.

“Dollar exchange rate has also gone up considerably. I don’t think newspapers have surplus funds. No question of the newsprint price coming down,” he said.

According to sources, the cost of newsprint is expected to go down further by October this year to even $600/tonne.

Chopra said that Punjab Kesari, which consumes about 30-32000 tonnes of newsprint every year, will pass on the benefit of reduction to readers by reducing cover price by a rupee.

“High newsprint prices resulted in hiking of cover prices. Punjab Kesari group is passing on the benefit of reduction to readers by reducing cover price on some days by a rupee from 5 to Rs 4,” he told exchange4media.

According to industry players, the top price for newsprint for 2022 was $1000/tonne, up from $450/tonne in Jan-March 2021.

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The two top industrialists who played a major role in mediating between Jain brothers

Sunil Bharti Mittal of Airtel and Gaurav Dalmia of Dalmia Holdings, it is believed, have helped the complex negotiations between Samir Jain and Vineet Jain to bifurcate the Times Group

By exchange4media Staff | May 23, 2023 8:32 AM   |   2 min read

times grp

The Times Group assets underwent an elaborate evaluation process about a year ago, but due to the complexities involved in the media conglomerate worth hundreds of crores, brothers Samir Jain and Vineet Jain reportedly couldn't reach a consensus despite multiple rounds of talks. That was the time when they decided to rope in mediators, who didn’t only enjoy the trust of the family but also have skills to manage a smooth split for the Times Group which is a web of around 70 entities, including the most complex one-Times Internet Ltd (TIL), sources told e4m. 

Two top business leaders who were roped for this massive task were-Sunil Bharti Mittal, the billionaire chairman of India’s leading telecom operator Bharti Airtel, and Gaurav Dalmia, Chairman of the Dalmia group Holdings and Landmark Group holdings. Incidentally, Dalmia family owned the BCCL in the 1950s before handing the company over to Jains. 

While Dalmia (57) is part of the family-owned business and a noted private equity and real estate investor, Mittal (66) is a first-generation entrepreneur. Both are among India’s wealthiest persons with businesses spread across the  world. 

“Mittal and Dalmia then oversaw the entire negotiations and mediation process. With their meticulous  business acumen, the duo was able to help Samir Jain and Vineet Jain to adjust here and there for larger gains and an amicable solution,” insiders claimed. 

The two were present with Jain brothers at the latter’s Delhi bungalow on Thursday when the settlement issue was resolved and a memorandum of understanding (MoU) was signed. 

“Smaller assets of the group have been fully settled, while the settlement of a few larger assets are being fine-tuned. Once it finishes, it would be clear how much cash payout Samir Jain needs to give to Vineet Jain,” a highly placed source told e4m, requesting anonymity. It is believed that the cash component could be in the range of Rs 3,500 crore to Rs 5,000 crore. 

It is said that Samir Jain has started looking for investors as well. “One of the two mediators might extend his helping hand to Samir Jain,” an insider said. 

Sources further said that top law firm Khaitan & Co is taking care of the legal technicalities of the partition. 

Does Vineet Jain’s new profile pic posted on Sunday signal’s new beginning? 

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BW Businessworld releases latest issue on Amul’s inflection point

The issue also has an additional summer special spin-off

By exchange4media Staff | May 23, 2023 8:20 AM   |   4 min read


In the recent issue of BW Businessworld releasing on June 3, 2023, takes a tour of India’s largest dairy processor and well-renowned household name, Amul. It explores the inflection point of Amul as it carries out its non-dairy food segment and is expected to generate a revenue up to Rs 1,00,000. To understand the vitality of the situation and the growth forward, BW Businessworld team travelled to the Milk Capital of India, Anand which is a home to the Gujarat Co-operative Milk Marketing Federation (GCMMF).

A Movement Of Exclusiveness

In an exclusive conversation with BW Businessworld, Jayen Mehta, the newly appointed managing director of Amul throws light on why the targeted revenue does not seem daunting for the brand. He further explains that since the dairy sector is swiftly becoming more organised, a shift towards the non-dairy food segment is likely to accelerate as consumers today are more health conscious, especially the younger generation. However, beyond the dairy sector, there is an inflection point for Amul as it now seeks to turn into an all-foods company. The various product launches in the past three years in the non-dairy segment and the expansion it reflected, Mehta seems optimistic about Indian consumers’ kitchen items to soon be of the brand, Amul, be it either organic or dairy products.

The latest issue also presents Amul’s past attempts to expand beyond dairy and value-added dairy products and how they collapsed to make a mark in the market. In this issue, BW Businessworld comes across understanding of what will be different this time and what shall we expect from Amul in the near future.

Largely, this issue also explores India’s substantial milk economy dynamic and the government’s thrust to boost milk production and whether it will bring a second White Revolution.

Summer Special Spin-off

The recent issue ‘The Summer Kings’, showcases a special feature on the summer season. We engaged with R.K. Singh, Union Minister of Power, New and Renewable Energy, to take stock of India’s preparation to address the rising demand of power this season. For the same, Singh highlights that the growing power demand is the definite indicator of India’s economic growth.

Nonetheless, the issue also features a rapid growth of sunscreens in the Indian market in this scorching heat of the summer, and how new-age brands have been drawn towards the sun protection market as it has become one of the highest and fastest growing in the skincare segment in the country.    

The issue also focuses upon the Indian meteorological department, predicting a hot and oppressive summer to which the team of BW Businessworld spoke to some of India’s biggest air conditioner manufacturers. B. Thiagarajan of Blue Star, Kanwal Jeet Jawa of Daikin, Manish Sharma of Panasonic Life Solutions India, among others, shares their plans to address consumer demand and their marketing playbook to reach out to them. A much weightage is given into smart solutions using AI and IoT based platform to offer comfort and convenience to its customers. 

In addition, this issue captures focus on sustainable architecture as sustainability has become central to everyone today. Special attention has been given to sustainable architecture to understand the practicalities of developing sustainable buildings in India.

Moreover, the latest issue also gives a special focus on building resilience in the era of uncertainty by Tiger Tyagarajan, President & CEO of Genpact, in its ‘Last Word’ column, aiming at what business leaders today need to concentrate on to navigate the current economic challenges. 

Click here to view the entire story of BW Businessworld on ‘India’s Best Kept FMCG Secret’ with Amul along with an additional summer special spin-off.

About BW Businessworld 

BW Businessworld, with its 43 years of legacy, is the fastest growing 360 degree business media house in India. With a network spanning across 23 niche business communities and 10 magazines, BW Businessworld is proud to be entrenched in various verticals in the domestic as well as global business, that organize conferences and forums to facilitate interaction between sectoral business leaders and create a conducive environment for collaboration. All BW issues are also fully digitally covered, including online stories and video stories and eMagazine is also available for every issue.

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Do not go by speculation in media about company’s reorganization: Times Group to employees

The group has released a statement internally to its key management saying speculations about the split in the business are incorrect

By exchange4media Staff | May 21, 2023 5:29 PM   |   1 min read


A day after the media reported details of Samir Jain and Vineet Jain splitting the Times Group business, the group released a statement internally to its key management calling the speculations incorrect.

The communication from BCCL’s Company Secretary Kausik Nath read: “As the KMP of the company, it is my duty to inform that employees should not go by speculation in the media about the reorganization of the company. Please be notified that social media has been speculative and incorrect.”

As per media reports, Samir Jain is likely to get hold of the entire Print businesses of the conglomerate and Vineet Jain is expected to occupy Broadcast, Radio Mirchi, Entertainment (ENIL), and other businesses.

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