10-11-2006, 10:13 AM
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Bennett, Coleman picks up 12% stake in Gujarati daily </b>
Tuesday, 10 October , 2006, 17:13
New Delhi: Bennett, Coleman & Co Ltd (BCCL), the publishers of English daily The Times of India, has picked up 12 per cent equity in Gujarati daily Sandesh.
BCCL and The Sandesh Ltd, the publishers of Sandesh, have also signed a business cooperation and arrangement agreement for cooperation in advertising sales, marketing and printing.
The agreement was signed on October 6 and the proposal has been sent to market regulator SEBI and Bombay Stock Exchange for approvals, a BCCL release said here.
The 12 per cent preferential stake in Sandesh, which has five editions and a readership base of 46 lakh, is fresh equity and would not dilute the promoters' stake.
<b>"This agreement will go a long way toward meeting the new aspirations of readers in Gujarat and create more value for advertisers," </b>the BCCL Managing Director, Vineet Jain, said.
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Tuesday, 10 October , 2006, 17:13
New Delhi: Bennett, Coleman & Co Ltd (BCCL), the publishers of English daily The Times of India, has picked up 12 per cent equity in Gujarati daily Sandesh.
BCCL and The Sandesh Ltd, the publishers of Sandesh, have also signed a business cooperation and arrangement agreement for cooperation in advertising sales, marketing and printing.
The agreement was signed on October 6 and the proposal has been sent to market regulator SEBI and Bombay Stock Exchange for approvals, a BCCL release said here.
The 12 per cent preferential stake in Sandesh, which has five editions and a readership base of 46 lakh, is fresh equity and would not dilute the promoters' stake.
<b>"This agreement will go a long way toward meeting the new aspirations of readers in Gujarat and create more value for advertisers," </b>the BCCL Managing Director, Vineet Jain, said.
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