This will lead to suggestions of consolidation in the media space, after Zee's acquisition of 9X: Jagran Prakashan's board has approved the acquisition of Mid Day Multimedia's print business, which includes publication brands Mid-Day (published from Mumbai, Pune, Bangalore and Delhi), Sunday Mid-Day, Gujarati Mid-day and The Inquilab. The print business is run by Mid Day's wholly owned subsidiary Mid-Day Infomedia Ltd (MIL), as well as their website mid-day.com The share swap ratio of the deal has been determined to be 7:2. Mid Day shareholders will get 2 shares of face value Rs. 2, for every Jagran Prakashan share of face value Rs. 10. Subsequent to this announcement, Rakesh Jhunjhunwala has resigned from Mid Day's Board of Directors. The Ansari family will continue to hold investment in the publishing business post completion of the demerger (from Mid Day Multimedia). Mid…
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