The India Today Group is negotiating with the Tata-owned RDI Print & Publishing to buy out the Reader’s Digest magazine business from the company.
Operating under a license arrangement with the US-based RD Association Inc for the last many years, Reader Digest India is a profitable company with a circulation of close to 400,000 copies in India and Nepal. On a turnover of about Rs 20 crore, Reader’s Digest profits are close to Rs 4 crore.
In India, Reader’s Digest shares are held by Titan Industries, Tata Infomedia and a few other investment companies of the Tata group.
According to sources, Aroon Purie, promoter, India Today, had been in talks with Reader’s Digest for a long time. Reader’s Digest also confirmed that the India Today Group was talking to them.
According to industry analysts, in case the Tata’s sell off Reader’s Digest, it would involve selling the company’s assets and database to the new owner as well as transferring the licence acquired from the US company to publish the magazine in India. Currently, Reader’s Digest is printed at Thomson Press.
Stuart Bowden talks about purchase journey, the revised version of Cannes Lions, Wavemaker Indiaâ€™s performance and a lot more
Emery says everything that Unilever CMO Keith Weed says has a touch of genius. He also talks about his expectations from Cannes, WPP without Sir Martin Sorrell and his love for Mindshare India.
In an interaction with exchange4media, PC Musthafa, CEO & Co-Founder iD Fresh Food shares how the brand deals with competition and marketing strategies followed by them.
Varun Raina, Marketing Manager, Airbnb India speaks to exchange4media about the successful #LiveThere campaign and how Bollywood helps them connect with its young consumer
He is the man behind India's most rewarded and talked about campaign at Cannes 2018, 'Blink to Speak. Read on to find out how he conceptualised the idea and led the team that created the campaign.
Facebook-owned Instagram introduces IGTV, a new app to upload long-form vertical videos, intensifies competition with YouTube.
Piyush and Prasoon Pandey will be the first Asians and first from WPP to be deemed with this honour tonight at the Cannes Lions Festival of Creativity