Pioneer Looking To Sell Up To 49 Percent Stake; Portal Revamp
By Nikhil Pahwa - Mon 11 Feb 2008 02:03 AM PST
CMYK Printech, which publishes English newspaper The Pioneer, is looking to raise funds by selling up to 49 percent stake, reports the Mint. The company, promoted by veteran journalist and Rajya Sabha member Chandan Mitra, had been in talks with Jagran Prakashan for a stake sale, but apparently talks fell through. The promoter group, comprising of Mitra, Durbar Ganguly and Amit Goel, holds 74 percent stake in the company. The Pioneer has eight editions, and intends to publish 12 more editions; they’re also looking to expand their portal - Dailypioneer.com, a revamped version of which will be launched in April.
Posted in: Newspapers, Portals, Venture Capital
