What’s holding up the Times Group split
Samir and Vineet Jain more or less agree that a mediated auction is the best way to divide their media empire, but can they rustle up the cash for the assets they want to control?
Why read this story?
Editor's note: It has been more than a year since talks of a possible split began at Bennett Coleman and Co. Ltd, the media behemoth better known as the Times Group. And it seems like a mediated auction is how one of the largest and most powerful media companies in India will finally be carved up. BCCL is one of the oldest media companies in India; its origins go back to the 19th century. The conglomerate, which publishes The Times of India, has interests in newspapers, television, radio, digital, movies, music, outdoor advertising, education and more. In recent years though, the company has seen a conflict unfold between brothers Samir and Vineet Jain, whose family owns and operates the business. We had written last year that disagreements between the two brothers had reached a breaking point and a separation had become inevitable. Samir Jain is the older of the two brothers by a little over 10 years and serves as the vice chairman of BCCL, while Vineet Jain is the managing director. (However, lately, Samir Jain also seems to have assumed the …
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