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Jagran To Receive $50M Investment From Blackstone; Confirms MidDay Talks

Jagran Media Network, the holding company of Jagran Prakashan will receive an investment of Rs 2.25 billion (around $50 Million) from US private equity group Blackstone. The deal for an undisclosed stake in the company will be put forward for approval from India's Foreign Investment Promotion Board. Foreign investors are allowed up to 26 percent in news companies or news broadcasters in India. On the digital side, Jagran has a tie-up with Yahoo India for Jagran.com, Online Classifieds business Khojle.in, reverse auction portal Jeetle.in, and also a Mobile Value Added services company called J9 Ventures. The media house publishes 37 editions and over 200 sub-editions of its newspaper Dainik Jagran, a tabloid called City Plus (23 editions), and I-Next, a bilingual newspaper. In Talks With Mid-Day Multimedia Both Jagran and the tabloid Mid Day Multimedia have clarified to the BSE that…

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