Bennett, Coleman Acquires Karnataka Papers

The Economic Times: This is one of the major acquisition deals in the Indian newspaper industry. Bennett, Coleman & Company (The Times of India Group) has made its big entry into the southern regional markets by acquiring the 100 stake in Bangalore-based Vijayanand Printers (VPL). The agreement was signed in New Delhi on Thursday.
VPL publishes two Kannada newspapers Vijay Karnataka and Usha Kiran and the English daily Vijay Times, all of which have 10 editions. Vijay Karnataka is the leader in the Kannada newspaper segment with circulation in excess of 0.55 million, while Vijay Times enjoys the number one position outside Bangalore and in all other districts of Karnataka in the English language segment.
Agencyfaqs adds: The financial terms are not disclosed. It, however, quotes industry sources as saying that BCCL has paid between Rs 178 crore and Rs 200 crore ($45 million) for the acquisition.

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