http://www.businessweek.com/news/2010-04-07/blackstone-invests-in-owner-of-indian-newspaper-update1-.html
Blackstone Invests in Owner of Indian Newspaper (Update1) April 07, 2010, 5:37 AM EDT By Pooja Thakur April 7 (Bloomberg) -- Blackstone Group LP, the largest private-equity firm, plans to invest 2.25 billion rupees ($50 million) in the owner of Dainik Jagran, the Hindi-language broadsheet that says it’s the world’s most widely read newspaper. The New York-based firm is investing in Jagran Media Network Pvt., which holds a majority stake in Indian newspaper publisher Jagran Prakashan Ltd., as local-language publications are poised to grow. Dainik Jagran has 54.6 million readers and prints 37 editions and more than 200 sub-editions across 11 states, according to a joint statement today by Blackstone and Jagran Media. India, the world’s fastest-growing major economy after China, may expand 8.2 percent in the 12 months from April 1, from an estimated 7.2 percent this year, India’s finance ministry forecast in February. Domestic consumption is driving India’s economic recovery, Hewitt Associates Inc., a Lincolnshire, Illinois-based human resources adviser, said last month. Jagran Prakashan rose 3.8 percent to 121.75 rupees as of 2:32 p.m. in Mumbai trading today. --Editors: Brett Miller, Chitra Somayaji To contact the reporter on this story: Pooja Thakur in Mumbai at [email protected] To contact the editor responsible for this story: Andreea Papuc at [email protected] ------------------------------------ -- INFORMATION OVERLOAD? Get all ZESTMedia mails sent out in a span of 24 hours in a single mail. Subscribe to the daily digest version by sending a blank mail to [email protected], OR, if you have a Yahoo! Id, change your settings at http://groups.yahoo.com/group/ZESTMedia/join/ PARTICIPATE Share media news, discuss journalism issues and network with media professionals across South Asia on this mailing list. Just write to [email protected] TELL FRIENDS TO SIGN UP If you got this mail as a forward, subscribe to ZESTMedia by sending a blank mail to [email protected] OR, if you have a Yahoo! ID, by visiting http://groups.yahoo.com/group/ZESTMedia/join/ Also have a look at our sister list, ZESTCaste: http://groups.yahoo.com/group/ZESTCaste/Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/ZESTMedia/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/ZESTMedia/join (Yahoo! ID required) <*> To change settings via email: [email protected] [email protected] <*> To unsubscribe from this group, send an email to: [email protected] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
