S K Khurana
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W
ith the progressively eroding demand for printed newspapers across the world, the publishing houses are increasingly engaging in such practices of news dispersion which can enable them keep rising steadily. Similarly, everyone in the Indian newspaper industry seeks to carry on growing further as a way for keeping track of business at optimum level in the rapidly changing market phenomenon. And undoubtedly many of them are performing well, which has been proved by remarkable increase in revenues exposed in their recent financial reports; but to gratify their thirst for further expansion they need yet much more space to play.
Alongwith the strategies including something to look for much broader avenues resulting significant rise in revenues, it is appropriate time for those who are firm believers in growth by bringing existing smaller organisations into their portfolio instead of creating new ones. The recent example in the Indian newspaper industry is of Jagran Prakashan Limited (JPL), publishers of India’s largest read daily Dainik Jagran, who have already initiated to acquire print business of Mid-Day Multimedia Limited (MML), comprising Mid-Day (published from Mumbai, Pune, Bangalore and Delhi), Sunday Mid-Day, Gujrati Mid-Day and the Inquilab, the largest read Urdu newspaper in the country, and with all publication related internet properties. Prior to this, Bennett, Coleman & Co Ltd - publishers of one of the country’s leading newspapers, The Times of India - acquired Vijay Times alongwith its sister publications in 2006. Started in 2003 by Vijayananda Printers, Vijay Times was one of the highest-circulated English dailies in Karnataka.
Certainly, this trend shall provide immense opportunities to improve market share with extended portfolio offering to customers to the acquiring company apart from bringing big relief to the acquired companies financially as well as getting into a bigger size umbrella safeguarding them through rain and extreme sunshine. But for availing its actual advantage, it needs to ensure that the existing staff of the acquired newspaper continues even aftermath the amalgamation of the businesses to keep the flavour of the product continue, as happens in case of MML. As rightly proclaimed by Mahendra Mohan Gupta, chairman and managing director, JPL, “With the present professional and experienced management team supported by Tarique Ansari, who is going to continue as director on the Board of Mid-Day Infomedia Limited (MIL), we will be able to not only improve the existing profits of MML’s print business but also add value to the businesses of both the companies.” The confluence of resources in such a way would also start up another drive for establishing more state-of-the-art facilities or modernising the existing ones across the country resulting new hardware and software (good news for suppliers).
So, warding off all difficulties, it is time to take the advantages of the new tide of industry optimism, becoming operationally aggressive, and competing vigorously to enlarge their market share while protecting the existing one. Probably, inclusion of existing newspapers alongwith workforce in the portfolio of biggies may prove an effective key for resolving the challenge to expand in the emerging scenario of multi-channel news publishing exploring the winning practicalities. Just step forward, expanding capabilities to somehow encompass evolving possibilities, especially at regional level. We wish winning time ahead for all!
