Times of India announces take-over of three publications in Karnataka

India’s largest media house – The Times of India – has announced the take over three publications in Karnataka including the largest circulated Kannada daily Vijaya Karnataka.

In an announcement appearing in the daily on Friday, Times of India Group has signed an agreement to acquire 100 per cent stake in Vijayanand Printers Ltd, which publishes to Kannada newspapers – Vijaya Karnataka and Usha Kirana – and the English daily Vijay Times.

“The move is part of Times Group’s efforts to deepen its local presence and develop a larger regional identity”, the announcement said.

An announcement on the sale of the three newspapers appeared in the publications of Vijayanand Printers Ltd also. “The ownership of the three proud publications of Vijayanand Printers Ltd, Vijaya Karnataka, Vijay Times and Usha Kirana has passed on to the Times of India group. An agreement to this effect has been signed by the two organizations”, Chairman of Vijayanand Printers Ltd Vijay Sankeshwar said in the announcement.

Sankeshwar said his group, having sold the media business, would focus on expanding its logistics venture, besides entering new businesses. “This sale will allow Vijayanand Roadlines Ltd, promoters of Vijayanand Publications Ltd, to focus on other major expansion and diversification plans for its logistics business as well as develop other new businesses”, he said.

All the three publications – Vijaya Karnataka, Usha Kirana and Vijay Times – have ten editions. While Vijaya Karnataka is the leader in Kannada newspaper segment with a circulation in excess of 550,000 copies per day, Vijay Times enjoys No. 1 position outside Bangalore in all the districts of Karnataka in the English language segment.