India’s largest media conglomerate The Times Group has reached a formula to split the group’s businesses between Sameer Jain and Vineet Jain.
According to the settlement reached earlier this week, the elder brother Sameer Jain will get the Print businesses along with their digital editions.
With this, Sameer Jain will have access to the highest revenue.
On the other hand, Vineet Jain will get the digital, TV and entertainment businesses.
“All is well that ends well,” RPG Group chairman Harsh Goenka wrote on Twitter while commenting on the development.
I am delighted that the Times of India group issue is finally settled. Samir Jain lords over the print business and Vineet gets the digital, TV and entertainment business.— Harsh Goenka (@hvgoenka) May 19, 2023
All’s well that ends well!
The brothers have been working on carving out the sprawling group that controls Bennett Coleman & Co., which runs the nation’s top newspaper The Times of India, and financial daily The Economic Times, between them in a mediated partition over the past year.
The Jain brothers initiated talks with financiers to fund a partition of the Times Group, Bloomberg reported earlier this month.
More than 180 years old, the Times of India has a daily circulation of 30 lakhs, which is the highest for any English language daily in the world.
Apart from the financial daily Economic Times, it also runs news channels Times Now and Mirror Now.
In the digital space, Times Internet has the largest footprint in India with MX Player, Gaana, Willow TV and Times Music among others.