Deccan Chronicle acquires 67 per cent in Asian Age, takes stake to 90 per cent

MUMBAI: Deccan Chronicle Holdings Ltd (DCHL) has acquired 67 per cent stake in Asian Age Holdings Ltd for Rs 171 million, scaling up its holdings in the daily newspaper to 90 per cent.


DCHL, which publishes the Deccan Chronicle newspaper, has bought out Zee Telefilms' 15 per cent stake Asian Age Holdings. The other shareholders from which DCHL has acquired equity are MJ Akbar (26 per cent), United Breweries (23 per cent) and T Venkattram Reddy (3 per cent). Earlier DCHL had held 23 per cent in The Asian Age, a daily newspaper published simultaneously from New Delhi, Mumbai, Kolkata, Bangalore and London.

The revenue and the brand ownership will be transferred to DCHL, with the Asian Age Brand expected to contribute Rs 750 million to Rs 1000 million to the top line by Fiscal 2007, the company informed BSE.



"The acquisition of Asian Age will transform DCHL into a National player with presence in the large advertising markets of Mumbai and Delhi in addition to presence in Kolkata, Bangalore and London," says DCHL managing director T Vinayak Ravi Reddy.

Zee Telefilms had picked up 15 per cent stake in Asian Age Holdings in 2001. Currently, Zee is planning launch of a news daily in Mumbai with Dainik Bhaskar as the joint venture partner.

Latest Reads
Best Deal TV appoints Hari Trivedi as COO

MUMBAI: Best Deal TV has appointed Hari Trivedi as the chief operating officer with immediate effect. Based in Mumbai, Trivedi will be responsible for overall sales and marketing. He would also be initializing lowest price offers and deals on Best Deal TV.

Television TV Channels People
Disney announces successor of MD Siddharth Roy-Kapur

MUMBAI: Walt Disney International has announced the successor to its former managing director Siddharth Roy-Kapur. As a second stint with the organization, Mahesh Samat has made a comeback and will lead The Walt Disney Company India as the managing director. He will pursue his new responsibility...

Television TV Channels People
Life is more imaginative than fiction in a story like POW, says writer-director Gideon Raff

MUMBAI: Sometimes, coming back home after 17 years is not always a happy ending. "Prisoners of War" is the story of three Israeli soldiers, who were held captive for that many years following their kidnapping while on a secret mission with their unit.

Television TV Shows Thriller
IPL media rights bidding postponed sine die

MUMBAI: The BCCI has made it clear that the media rights auction cannot take place till the time it gets a concrete go-ahead and a formal approval from the Justice RM Lodha committee. Till the evening of 24 October (Monday), BCCI did not receive the okay from the committee which said, "it is in...

Television TV Channels Sports
Q3-16: DIRECTV mitigates AT&T U-Verse TV subscriber numbers fall

BENGALURU: AT&T acquired DIRECTV added 323,000 net subscribers and hence helped mitigate the company’s Entertainment and Internet Services Group (Entertainment) segment’s loss of 326,000 U-Verse subscribers for the quarter ended 30 September 2016 (Q3-16, current quarter). About 70 percent of...

Television TV Channels English Entertainment
"Let India open its market, we will open ours" - PEMRA chairman Absar Alam

Pakistan’s TV watchdog - the Pakistan Electronic Media Regulatory Authority (PEMRA) - charimanAbsarAlam was in the line of Pakistan’s Geo News anchor Shahzaib Khanzada’s fire last week. In his Monday to Thrusday current affairs talk show Aaj ShahzaibKhanzada Kay Sath - the anchor grilled him time...

Television TV Channels GECs
BIG Magic acquires 'Boonie Bears' exclusive FTA rights

BIG Magic has acquired exclusive FTA rights of ‘Boonie Bears’, the No.1 and most popular animated series in China. BIG Magic has renamed it ‘Babloo Dabloo’ for the Hindi viewing audience. Babloo Dabloo airs every Monday – Sunday 10 am – 11 am & 5 pm – 6 pm only on BIG Magic

Television TV Channels GECs
PBL: Setting stage for next big thing on Indian sporting landscape

India has witnessed the emergence of a multi-sports culture over the past few years. This significant development has come on the back of a promising display by Indian sportspersons across various disciplines, the meteoric rise of home grown leagues and the consequent widening of the fan base of...

Television TV Channels Sports
CNNMoney new section will be about the fastest growing economy; MoneyStream app launched

MUMBAI: Attracting 1.8 million average monthly page views, witnessing a 37 per cent growth in video consumption and 16 per cent in unique browsers month-on-month from India in less than a year’s time is not smooth. In its ambitious plan of global expansion, CNN Digital is leaving no stone unturned...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories