Planets align for media acquisition

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Jupiter Media & Entertainment Ventures
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Jupiter Media & Entertainment Ventures has acquired a controlling stake in leading Karnataka newspaper Kannada Prabha for Rs2.5 billion (US$55 million). Kannada Prabha, a Bangalore-based publication, is owned by Express Publications. The purchase is intended to expand Jupiter’s editorial network across Karnataka.

Owned by entrepreneur and independent Rajya Sabha member Rajeev Chandrasekhar, Jupiter runs regional news channels. These include the Kannada language Suvarna News 24×7 and the Malayalam language Asianet News. The company also owns stakes in radio stations Radio Indigo and Best FM and produces films under the Jupiter Entertainment and Indigo Films banners. The acquisition of Kannada Prabha gives Jupiter a foothold in print media.

Express Publications publishes newspapers and periodicals in Tamil Nadu, Andhra Pradesh, Karnataka, Kerala, Orissa and the union territories of Pondicherry, Andaman and Nicobar Islands and Lakshadweep.

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