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India’s largest media conglomerate Times Group has headed for a split. The reports of the Times group’s split have been in circulation for a year. Finally, the year-long battle seems to have come to an end through a reported partition settlement. As per sources, the split took place last night between the brothers of Sahu Jain family – Samir Jain and Vineet Jain.
Samir Jain took the core print business and its digital assets associated with it. This includes India and South-Asia’s largest publishing company Bennett, Coleman and Company Limited (BCCL). Its flagship Times of India leads the publishing company. Whereas Vineet Jain chose the broadcast, radio and other digital businesses of the Times Group.
Internet Tech company Times Internet and Real Estate Magic Bricks will be shared equally between the brothers. In compensation for leaving the Print, younger brother Vineet got a huge cash payout reportedly estimated at Rs 3000 crore.
Well-known industrialist Harsh Goenka has confirmed the split with his tweet, “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. All’s well that ends well!”
Tags Samir Jain Times group Vineet Jain
