Under the agreement, announced by Sanjoy Narayan, Editor-in-chief Hindustan Times and Raju Narisetti, Managing Editor, The Washington Post, Hindustan Times will offer The Washington Post and Newsweek content on an exclusive basis in India, to provide readers the same level of analysis and global perspective.
DB Corp, country’s one of the leading publishers of newspapers, is planning toraise up to Rs 385 crore through its initial public offering 180 million equity shares in the price band of Rs 185-212 per share at a face value of RS 10 EACH. The company publishes, dainnik Bhaskar, which is India’s one of the largest circulated Hindi-language daily. The newspaper is published in nine states in North and Central India. These states are Madhta Pradesh, Chhattisagarth, Rajasthan, Gujarat, Haryana, Punjab, Chandigath, Maharashtra, Himachal Pradesh, and Delhi. It plans to use around Rs 105 crore of the totalproceeds for upgrading its plant and machinery and for establishing of new printing presses. It plans to use around Rs 130 crore for paying its loans.
In an official communique, Narisetti said, "We are pleased that Hindustan Times has newspaper for the English language based on exclusive content in India has decided to provide its readers. In India, a World growing role at the Post makes a natural audience in India to readers. "Washington Post, as well as opinion pieces and book reviews, the Hindustan Times daily news and feature articles chosen such Farid Zakaria, As editor of Newsweek International by famous authors have used for column addition, Robert Samuelson, business and financial news editor and columnist, contributor, Newsweek, and David Ignatius, former editor of International Herald Tribune and Post columnist.
Business: Besides Dainik Bhaskar, the company also publishes business newspaper in Hindi and a general newspaper in Gujarati under the name ' Business Bhaskar' and 'Divya Bhaskar respectively. A monthly magazine published in Hindi and Gujarati, Bal Bhaskar, a Hindi magazine for children, Young Bhaskar, a children magazine in English and Lakshya, a career magazine in Hindi.
Financial: The company has a combined average daily readership of 15.5 million across its various newspaper offerings. An analysis of the second quarter results of the media firm reveals that non-English publications seem to be doing better than English publications. Jagran Prakashan, which owns Dainik Jagran and is country’s largest publisher of Hindi language newspapers, reported 20% revenue growth in Q2 vis-à-vis 10% growth reported by Deccan Chronicle Holdings.