Times of India

New Delhi / Bangalore / Mangalore, Jun 15 : The Times of India Group and the promoters of the Bangalore-based Vijayanand Printers Limited have signed an agreement in New Delhi on Thursday for the 100 per cent acquisition of Vijayanand Printers Ltd (VPL).

VPL publishes two Kannada newspapers Vijay Karnataka and Usha Kiran and the English daily Vijay Times , all of which have ten editions. Vijay Karnataka is the leader in the Kannada newspaper segment with circulation in excess of 5.5 lakh (July-Dec 2005, ABC survey) while Vijay Times enjoys the No.1 position outside Bangalore and in all other districts of Karnataka in the English language segment.

Vijay Sankeshwar, Chairman, VPL, said: "This sale will allow Vijayanand Roadlines Limited, the promoters of VPL, to focus on the major expansion and diversification plans for its logistics business as well as develop other new businesses. The Vijay Group of newspapers have established a leadership position in Karnataka in a very short period of time and this position will now be consolidated in the hands of the Times of India Group. Readers, advertisers, employees and business associates have all played a vital role in building these brands and we are committed to keeping their interests at the centre of whatever we do".

Vineet Jain, Managing Director, Bennett, Coleman & Co Ltd (The Times of India Group's parent company), said: "This agreement highlights our strong emphasis on the fast-growing regional media markets in India where readers have new aspirations and mindsets. We are thus committed to "going local" and further developing strong regional identities so as to provide the best possible value to our new readership and advertiser base."