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Irish publisher to sell stake in Dainik Jagran: report
Europe,
Sun, 19 Apr 2009
IANS
London, April 19 (IANS) Independent News & Media (INM) may consider a sale of its investment in Dainik Jagran, one of India's largest circulated dailies, the Sunday Times reported.
The Irish publisher is understood to have held discussions with the 'founding family behind Dainik Jagran' about selling back its stake, the paper said.
The Dainik Jagran has a reported readership of 56.6 million.
The Sunday Times said the INM is selling assets in a bid to pay back debts of 1.3 billion pounds.
INM, which acquired a 21 percent stake in Jagran Prakashan, the Dainik Jagran's parent company, for 22.5 million pounds in 2004, is set to announce full-year results Friday.
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