Jagran Prakashan Ltd, publishers of the country’s largest read Hindi daily, Dainik Jagran, in a BSE announcement said that the company has deferred the launch of its regional business dailies, it had announced earlier in a joint venture partnership with the TV media group Network 18 and Jagran Publications. The group has revisted its plans due to adverse market conditions, the announcement stated.
The two companies had announced a 50:50 joint venture partnership in December last year to publish a business newspaper in Hindi this year. The Hindi launch was to be followed by subsequent regional language launches. There is however no indication as to whether the Hindi launch is deferred too. The two groups have another joint venture partnership, Global Broadcast News Ltd, a group company of Network18, and the promoter family of Jagran run IBN-7.
Jagran’s move would undermine the ambitious plans of Network 18 group to fill in the space created by increasing awareness of business environment and related news in the TierI and II cities.
