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According to media reports, India’s largest media conglomerate, The Times Group, has finally reached an agreement to divide the group’s businesses between two brothers, Sameer Jain and Vineet Jain.
According to Business Standard, Sameer, the group’s elder brother, is set to acquire the group’s print businesses as well as their digital editions. His stake is thought to account for the media conglomerate’s highest-earning business.
Vineet, his younger brother, would take over the media house’s digital, TV, and entertainment businesses.
RPG Group Chairman Harsh Goenka commented on the development on Twitter, saying, “All is well that ends well.”
I am relieved that the Times of India group issue has been resolved. Samir Jain controls the print industry, while Vineet controls the digital, television, and entertainment industries.
Everything works out in the end! May 19, 2023 — Harsh Goenka (@hvgoenka)
Bloomberg reported earlier this month that Samir and Vineet, who jointly control BCCL, had begun talks with financiers to fund a division of the company.
