Hindi media is becoming a HOT sector for private equity investors
Warburg Pincus Invests $33.33 Million For 7% In Media House Dainik Bhaskar
Hindi media had arrived when TV networks like Aaj Tak became a phenomenon and when Star News stopped their English language service and launched a Hindi channel. Now every media group worth its name has a Hindi channel or product. There is serious money to be made So small wonder Warburg Pincus has picked up 7 per cent stake in Dainik Bhaskar, a regional language newspaper group which has significant presence in central India, for Rs 150 crore ($33.33 million).This values the company at Rs 2143 crore ($476 million). Warburg's deal is expected to be sealed next week. Ambit PTE is one of the advisors of the deal. In 2004, UK's Independent News & Media had acquired 26 per cent in India's largest Hindi newspaper group, Kanpur-based Jagran Prakashan Ltd (Dainik Jagran), for Rs 150 crore (€25.5 million).
Hindi media had arrived when TV networks like Aaj Tak became a phenomenon and when Star News stopped their English language service and launched a Hindi channel. Now every media group worth its name has a Hindi channel or product. There is serious money to be made So small wonder Warburg Pincus has picked up 7 per cent stake in Dainik Bhaskar, a regional language newspaper group which has significant presence in central India, for Rs 150 crore ($33.33 million).This values the company at Rs 2143 crore ($476 million). Warburg's deal is expected to be sealed next week. Ambit PTE is one of the advisors of the deal. In 2004, UK's Independent News & Media had acquired 26 per cent in India's largest Hindi newspaper group, Kanpur-based Jagran Prakashan Ltd (Dainik Jagran), for Rs 150 crore (€25.5 million).
posted by sandeepmoonka at 10:46 PM
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