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Times Group, one of India's largest and oldest media conglomerates, is undergoing a strategic split following a resolution to a long-standing dispute between brothers Samir Jain and Vineet Jain. The recently finalised Times Group split involves the partition of assets and responsibilities within the company.
According to reports, Samir Jain, the elder brother, is set to take control of the print business segment, including prestigious publications such as The Times of India, The Economic Times, and regional language newspapers like Navbharat Times and Vijay Karnataka, along with their respective online editions.
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On the other hand, Vineet Jain will assume responsibility for the broadcast, radio, and entertainment divisions, including the Times Network and Entertainment Network India. Additionally, Vineet will receive a substantial cash settlement to balance out the partition, considering the massive revenue generated by the print business.
However, after details of the asset division emerged, the Times Group issued an internal statement to its key management, cautioning against speculations in the media. According to Kaushik Nath, company secretary of Bennett Coleman & Company Ltd., social media rumours about the company's reorganisation were inaccurate and speculative.
The Times Group (Bennett, Coleman and Company Limited / B.C.C.L.) is an Indian media conglomerate with its main offices in Mumbai, Maharashtra. It is one of India's oldest and most prestigious media companies, owned by the Sahu Jain family.
It is the country's third-largest newspaper in terms of circulation and holds the distinction of being the world's largest-selling English-language daily, with its inception dating back to 1838. The Jain family assumed ownership of the company in the 1960s, and there have been reports of leadership uncertainty in recent years, reflecting alleged disagreements between the brothers regarding the management of the business.
While the details of the Times Group split and the exact distribution of assets are yet to be officially confirmed, it is evident that significant changes are underway within the Times Group. The resolution of the long-standing dispute between Samir Jain and Vineet Jain marks a crucial turning point for the media giant as it navigates the challenges and opportunities in India's rapidly evolving media landscape.
—Kritika Singhal
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