India's largest print media company, Bennett Coleman & Co, is merging five of its subsidiaries with itself as part of its plan to clean up the company's structure, in accordance with a National Company Law Tribunal order. The NCLT cleared the merger on May 4, effective April 2021.
The publisher of the Times of India newspaper said it is merging its subsidiaries, Mind Games Shows Pvt (MGSPL), Ananta Properties Pvt (APPL), Amrita Estates Pvt (AEPL), Times Digital (TDL) Times Journal (TJIL) and Vinabella Media and Entertainment Pvt (VMEPL) with itself. The company had 26 subsidiaries on March 2021, according to its filings with the government.
BCCL's digital news arms, Times Internet and Global Broadcasting, which operates a slew of news channels, are not part of the restructuring exercise.
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