Mumbai: The yearlong battle in The Times Group between the brothers of Sahu Jain family – Samir Jain and Vineet Jain came to an end with the duo reaching a partition settlement. The Times Group is now headed for a split.
Media reports quoted highly placed sources as saying that the split was finalised last night. As per sources, Samir Jain will take ownership of the print business along with digital assets aligned to the print business.
Vineet Jain will own the broadcast, radio and entertainment businesses, besides digital assets associated with them. In addition, Vineet will also be get a cash out given the size of the print business led by flagship The Times of India.
Internet tech company Times Internet and the real estate will be divided equally, the sources added.
The Times Group owns the largest publishing company in India and South Asia, Bennett, Coleman and Company Limited (BCCL), Times Network – which operates a dozen TV channels in the news and English entertainment genres, Times Internet – an internet technology company, which owns, operates and invests in various internet-led products, services and technology and real-estate tech market place.
