Jagran Prakashan buys Nai Dunia

Jagran Prakashan Ltd,the publisher of the countrys largest read daily Dainik Jagran,said it had acquired Suvi Info Management

Jagran Prakashan Ltd (JPL),the publisher of the countrys largest read daily Dainik Jagran,today said it had acquired Suvi Info Management (Indore) Pvt Ltd,the company that through a subsidiary Nai Dunia Media Ltd publishes Hindi daily Nai Dunia in Madhya Pradesh and Chhattisgarh.

Nai Dunia publishes several editions from Indore,Gwalior,Jabalpur and Bhopal in Madhya Pradesh and Raipur and Bilaspur in Chhattisgarh and has a daily circulation of around 500,000 copies,the company said in a statement issued to the Bombay Stock Exchange.

This was a logical market expansion for us and enables us to strengthen our presence in central India, said Mahendra Mohan Gupta,Chairman and Managing Director of JPL. The company,however,did not divulge financial details of the deal.

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The company had acquired English daily Mid Day in 2010 for around Rs 175 crore soon after private equity group Blackstone invested around Rs 225 crore in Jagran Media Network Investment Pvt Ltd,the holding company of JPL.

Gupta said the new acquisition was in tune with the companys strategy to grow inorganically through mergers and acquisitions.

The acquisition enables us to leverage our existing network and will have significant operating synergies, Gupta said.

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