TOI all set to acquire Sakshi and DC

The Times of India group is eyeing for a larger market share in Andhra Pradesh and Telangana by buying out the assets of Sakshi group and Deccan Chronicle. Both the media houses are reportedly in financial crunch. Both the media groups have suffered ED seizures of different reasons.

Sakshi is very much handicapped as most of Sakshi land assets in Telangana have been seized by the ED and even shut down some of its offices. The deal was on table even before the elections but Jagan put it on hold hopping that all his troubles with the hopes of winning the 2014 elections.

However the election defeat only mounted the troubles further on Jagan. On the other side, TOI’s talks with Deccan Chronicle are at advanced stages and the deal is sealed. They say TOI clout is behind the CBI arrest of DC owner Venkatram Reddy. TOI before the elections bought the Kannada newspaper group and is targeting a big market share in the entire South.