(by Apurva Chaudhary and Nikhil Pahwa) Update: A source with knowledge of Businessworld's financial position tells us that the magazine was doing around Rs 15 crore in revenue, had a loss of Rs 4.5 crore, and since it was not a separate company, there was no debt to be taken on board. The key issue, we're told, was the high editorial cost (of around Rs 6.5 crore), and the loss, because of which any entity acquiring it would either have to take on the cost of laying people off, or a significant loss post-acquisition. It's unlikely that the magazine was sold for more than Rs 5 crore. Earlier: This is a first in India: an online media exec buying a print media publication: The Anandbazaar Patrika Group (ABP), which publishes newspaper dailies, has sold its fortnightly business magazine Businessworld to Anurag Batra, owner of Exchange4media and investor Vikram Jhunjhunwala, reports Business Standard. At the time of filing this report, Batra had not responded to an email from MediaNama, requesting a confirmation, and details of the deal. The suggestion here is that it is Batra in his individual capacity, and not his business that has participated in this deal, while Jhunjhunwala represents investors. The financial details of the deal have not been disclosed, but we're hearing that the deal in in the Rs 6-15 crore range, with debt being taken on board as well. It is not clear whether Batra and Jhunjhunwala plan to continue with the magazine in the print format. Earlier this month, ABP…
