After Mid Day, Jagran group to buy Nai Dunia

The Jagran group that publishes the country’s most widely read Hindi newspaper, Dainik Jagran, is close to buying out Nai Dunia, the Indore-based Hindi daily promoted by Vinay Chhajlani.

According to sources familiar with the development, the talks have been on for a while and the deal size is expected to be around Rs 300 crore.

Nai Dunia was started in 1947 and is published from Indore, Gwalior and Jabalpur in Madhya Pradesh and from Bilaspur and Raipur in Chhattisgarh. If the deal goes through, Dainik Jagran would get an avenue to expand in Madhya Pradesh and central India. Currently, the Kanpur-based newspaper group has two editions in Madhya Pradesh, at Bhopal and Rewa. It is published from Uttar Pradesh, Uttarakhand, Punjab, Bihar, Delhi, Haryana, Jharkhand, Madhya Pradesh and parts of Rajasthan. It has 37 editions.

In 2010, Jagran bought Mid Day, the afternoon tabloid based in Mumbai, from Tariq Ansari for Rs 200 crore in an all-stock transaction. The deal also included Sunday Mid-Day, Gujarati Mid-Day and the Urdu newspaper Inquilab, along with its website, mid-day.com.

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