Magazine publisher woes continues: ABP Group which publishes newspaper dailies Anandabazar Patrika and The Telegraph, has apparently put up its fortnightly business magazine Businessworld on sale, reports Business Standard. Note that the magazine also has a web presence at Businessworld.in.
An ABP management official has told the publication that they are currently in talks to sell the magazine, while another has said the deal is going to be done by the end of this year, failing which the magazine might also be shut down. ABP managing director and chief executive officer D D Purkaystha however declined to comment on this development to the publication.
Launched in 1981 as a fortnightly magazine, Businessworld is probably the oldest business magazine in the country and the company claims that it is the largest selling Indian business magazine at present. It currently has around 50 employees and provides articles and analysis across various topics like telecom, IT, biotech, media, pharmacy, infrastructure, economy and the stock markets.
It had switched from a fortnightly magazine to a weekly magazine in 1999 and earlier this year in February, it switched back to a fortnightly magazine, shifting from news to focus entirely on analysis and trend based articles. The company attributed this shift to the emergence of Internet and several dedicated business television channels.
Apart from Businessworld, ABP Group publishes five fortnightly regional magazines – Bengali literature and culture magazine Desh, Women magazine Sanada, Children’s magazine Anandamela, Celebrity magazine Anandalok and Teen magazine Unish Kuri. It also publishes Fortune India with Time Inc and manages two publication houses – Ananda Publishers and Penguin India, a joint venture between Penguin India Publishing Co. Ltd and ABP Group.
The group also manages three television channels – ABP News, ABP Ananda and ABP Majha and has a mobile property 56569, which is branded as Mjoy.
Recent developments In The Magazine Industry
So, here’s what’s been happening in the magazine space of late (and you can tell us more by leaving a comment):
– Burda acquired Exposure Media Marketing, which publishes Indian editions of AsiaSpa, Millionaire Asia, Asia-Pacific Boating, Selling World Travel, Designer Mode and Audi magazine in June 2013.
– Delhi Press, publishers of The Caravan, acquired Business Standard’s Motoring in April 2013. It was also in talks with the lifestyle magazine MW but the deal fell through.
– Spenta Multimedia acquired a majority stake in MW and Rolling Stone India in August 2013.
– Outlook pulled the plug on three of its licensed international titles – People, Geo and Marie Claire in July 2013.
– Luxury Fashion magazine Atelier and Women magazine Atelier Diva shut down in June 2013, as per a First Post report.
– Not a magazine, but in some ways playing in the same space, the Times of India group had shut down Crest, a Saturday edition it ran, in July 2013.