The Times Group

Last updated

Bennett Coleman and Company
Company type Private
Industry Mass media
Founded4 November 1838(185 years ago) (1838-11-04)
Headquarters Mumbai, Maharashtra, India
Key people
Products
RevenueIncrease2.svg₹73.94 billion (US$890 million) (2022) [1]
Increase2.svg₹4.57 billion (US$55 million) (2022) [1]
Owner Sahu Jain family
Number of employees
11,100 (2014) [2]
Subsidiaries
Website timesofindia.indiatimes.com OOjs UI icon edit-ltr-progressive.svg

Bennett Coleman and Company Limited [3] [4] (abbreviated as B.C.C.L. and d/b/a The Times Group) is an Indian media conglomerate headquartered in Mumbai, Maharashtra. [5] The company, which is a family-owned business, publishes The Times of India newspaper, which is the highest selling daily English-language newspaper in India, in addition to several radio stations, television channels such as Times Now, the film magazine Filmfare, and the women's magazine Femina. The Sahu Jain family continues to own a majority of the stake in the group, and in May 2023, the Times Group was split into two separate business entities between brothers Vineet Jain and Samir Jain, such that its radio and broadcast properties would remain with Vineet Jain and its print properties would be under Samir Jain. [6]

Contents

History

The Bombay Times and Journal of Commerce was first published on 3 November 1838 as a predecessor to what would become The Times of India . [7] [8] [9] While starting as a biweekly paper, it was converted to a daily in 1850. In 1859 the paper was merged with two other papers into the Bombay Times and Standard under editor Robert Knight. [9] [10] Two years later, in 1861, the paper got a more national scope with the title The Times of India. Subsequently the paper saw its ownership change several times until 1892 when an English journalist named Thomas Jewell Bennett along with Frank Morris Coleman (who later drowned in the 1915 sinking of the SS Persia) acquired the newspaper through their new joint stock company, Bennett, Coleman & Co. Ltd. (BCCL). [9] [10] At the time, some 800 people were employed by the paper.

The company, by that time consolidated in the Times of India Group, was taken over from its British owners in 1946 by industrialist Ramkrishna Dalmia. [11] [12]

Ramkrishna Dalmia (7 April 1893 – 26 September 1978) was a pioneer industrialist and founder of the Dalmia-Jain group or Dalmia Group and The Times Group. The name is variously written as Ram Krishan Dalmia and Ram Kishan Dalmia. In 1947, Dalmia engineered the acquisition of the media giant Bennett, Coleman by transferring monies from a bank and an insurance company of which he was the Chairman. In 1955, this came to the attention of the socialist parliamentarian Feroze Gandhi who was part of the ruling Congress party headed by his estranged father-in-law Jawaharlal Nehru. In December 1955, he raised the matter in the Parliament, documenting extensively the various fund transfers and intermediaries through which the acquisition had been financed. The case was investigated by the Vivian Bose Commission of Inquiry.

In the court case that followed, where he was represented by the leading British attorney Sir Dingle Mackintosh Foot, he was sentenced to two years in Tihar Jail. But for most of the jail term he managed to spend in hospital. During this period the company was run by his son-in-law Sahu Shanti Prasad Jain.

Upon his release his son-in-law Sahu Shanti Prasad Jain to whom he had entrusted running of Bennett, Coleman & Co. Ltd. rebuffed his efforts to resume command of the company. [13] Jain would buy the company a few years later and the company would be primarily run by his family in the years after. [12] [14] The company expanded its presence in the Indian media sphere by founding different papers and local editions of The Times of India. [10]

Decline and revival

The Times of India 1988 stamp of India The Times of India 1988 stamp of India.jpg
The Times of India 1988 stamp of India

The Times of India press published a number of influential English (e.g. Illustrated Weekly of India 1880-1993) and Hindi magazines (e.g. Dharmyug 1949-1997, Sarika, Dinaman 1965-1990s, Parag 1958-1990s), edited by distinguished authors including Khushwant Singh, Dharmveer Bharti, Agyeya and Sarveshwar Dayal Saxena. However, the organisation faced financial difficulties, and most of them were closed down during the 1990s.

The sons of Sahu Ashok Jain, Sahu Samir Jain and Vineet Jain are credited with reviving the financial success of the group with newer and more profitable ventures. [15] [16]

Assets

Publications

Television channels

The Times Group owns the following channels. [19]

ChannelLanguageCategory SD/HD availabilityNotes
Movies Now English MoviesSD+HD
MNX Formerly Movies Now 2
Romedy Now SD
MN+ HD
Times Now NewsSD
Times Now World HDFormerly Times Now HD
Mirror Now SD+HDReplaced Magicbricks Now
ET Now Business NewsSD
Times Now Navbharat [20] Hindi NewsSD+HD
ET Now Swadesh [21] Business NewsSD
Zoom HindiMusicSD

Defunct Channels

ChannelLanguageCategoryDefuncted SD/HD availabilityNotes
1Sports English Sports2023SD

Times Business Solutions Limited

TBS
Company typeBusiness Service
Founded2004
180,000,000 Canadian dollar (2016)  OOjs UI icon edit-ltr-progressive.svg
Number of employees
11,002 (2014)  OOjs UI icon edit-ltr-progressive.svg
Parent DKS Solution
Website http://www.tbsl.in/

Times Business Solutions – A division of Times Internet Limited is a limited company, wholly owned by Bennett Coleman Company Limited (The Times Group). TBS develops web sites within areas such as recruitment, real estate and matrimonials such as SimplyMarry.com. [22]

TBS started as a division of BCCL in 2004 to create an exchange for job seekers and employers on the internet. With the growth of internet attaining rapid speed and being a highly profitable venture, Times Business Solutions – A division of Times Internet Limited was born as the "Internet Initiatives" of BCCL. Times Group, others put $20 million into Square Yards [23] in September 2019.

Times Internet

Times Internet is an Indian company which owns, operates and invests in various Internet-led products, services and technology.

Radio Mirchi

Radio Mirchi is a nationwide network of private FM radio stations in India.

See also

Related Research Articles

<i>The Times of India</i> Indian English-language daily newspaper

The Times of India, also known by its abbreviation TOI, is an Indian English-language daily newspaper and digital news media owned and managed by The Times Group. It is the fourth-largest newspaper in India by circulation and largest selling English-language daily in the world. It is the oldest English-language newspaper in India, and the second-oldest Indian newspaper still in circulation, with its first edition published in 1838. It is nicknamed as "The Old Lady of Bori Bunder", and is a "newspaper of record".

<span class="mw-page-title-main">Times Internet</span> Indian multinational technology company

Times Internet is an Indian multinational technology company, headquartered in Gurgaon, India which owns, operates and invests in various internet-led products, services and technology. It is the digital arm of The Times Group, the largest media conglomerate in India. Times Internet currently owns and operates 39+ digital products across news, sports, music, video, trivia, spirituality and a suite of transaction-led market-places across real estate, personal finance, education, jobs, table reservation, agri-business, etc.

<i>The Economic Times</i> Indian financial newspaper

The Economic Times is an Indian English-language business-focused daily newspaper. It is owned by The Times Group. The Economic Times began publication in 1961. As of 2023, it is the world's second-most widely read English-language business newspaper, after The Wall Street Journal, with a readership of over 900,000. It is published simultaneously from 14 cities: Mumbai, Bangalore, Delhi, Chennai, Kolkata, Lucknow, Hyderabad, Jaipur, Ahmedabad, Nagpur, Chandigarh, Pune, Indore, and Bhopal. Its main content is based on the Indian economy, international finance, share prices, prices of commodities as well as other matters related to finance. This newspaper is published by Bennett, Coleman & Co. Ltd. The founding editor of the paper when it was launched in 1961 was P. S. Hariharan. The current editor of The Economic Times is Bodhisattva Ganguli.

<i>Filmfare</i> Indian film magazine

Filmfare is an Indian English-language fortnightly magazine published by Worldwide Media. Acknowledged as one of India's most popular entertainment magazines, it publishes pieces involving news, interviews, photos, videos, reviews, events, and style. The magazine also annually gives the Filmfare Awards, the Filmfare Awards South, the Filmfare Awards East, the Filmfare Marathi Awards, the Filmfare Awards Punjabi, the Filmfare Awards Bangla, the Filmfare OTT Awards, the Filmfare Short Film Awards and the Filmfare Style & Glamour Awards.

<span class="mw-page-title-main">Ken Auletta</span> American writer, journalist, and media critic

Kenneth B. Auletta is an American author, a political columnist for the New York Daily News, and media critic for The New Yorker.

<i>Navbharat Times</i> Indian newspaper

Navbharat Times is a Hindi newspaper distributed in Delhi, Mumbai, Lucknow and Kanpur. It is from the stable of Bennett, Coleman & Co. Ltd (BCCL), which also publishes other dailies including The Times of India, The Economic Times, Maharashtra Times and also magazines such as Filmfare and Femina. NBT is one of the oldest product of the BCCL group.

Entertainment Network India Limited (ENIL) is a subsidiary of Times Infotainment Media Limited, the holding company promoted by Bennett, Coleman & Company Limited—the flagship company of the Times of India Group, incorporated in 1999. ENIL is the only listed company in the otherwise privately held Times of India Group. It is listed on Bombay Stock Exchange of India Limited and the National Stock Exchange of India Limited. Its subsidiaries include the Radio Mirchi national radio network and marketing and out-of-home advertising businesses.

<span class="mw-page-title-main">Indu Jain</span> Indian businesswoman (1936–2021)

Indu Jain was an Indian media executive and philanthropist. She belonged to the Sahu Jain family and was the chairperson of India's largest media group, popularly known as The Times Group.

The Sahu Jain family is an industrial family of India. They own Bennett, Coleman & Co. Ltd., which owns The Times of India, the most-circulated English-language newspaper in the world. The members of the extended family have interests in education, chemicals and finance.

Sahu Shanti Prasad Jain was an Indian industrialist and philanthropist. He was the son-in-law of Ramkrishna Dalmia and former chairman of Bennett, Coleman. His family, Sahu Jains, owns the Times of India newspaper group.

<span class="mw-page-title-main">Samir Jain</span> Indian businessman (born 1954)

Samir Jain is an Indian publisher and the Vice-Chairman and Managing Director (VCMD) of Bennett, Coleman & Co. Ltd., also known as The Times Group, a leading media conglomerate with its primary base of operations in India, which publishes The Times of India and has many other interests. Jain belongs to the Sahu Jain family, an industrialist family of India.

Sahu Shreyans Prasad Jain (1908–1992) was an Indian businessman, parliamentarian and a prominent member of the Jain community. He was the brother of notable businessman and philanthropist Sahu Shanti Prasad Jain. He was awarded Padma Bhushan for social work in 1988.

Jaidayal Dalmia (1904–1993) was born into Hindu Agarwal family and was one of the leading industrialists and philanthropists of India. He was one of the co-founders of Dalmia Group and younger brother of Ramkrishna Dalmia

<i>Ei Samay Sangbadpatra</i> Bengali-language daily newspaper

Ei Samay Sangbadpatra is a Bengali-language daily newspaper from The Times Group. It was launched as a broadsheet daily newspaper with a motive to enter into a head-to-head competition with Anandabazar Patrika. It is owned and published by Bennett, Coleman & Co. Ltd. which is owned by the Sahu Jain family. At present it is owen by Tidings Media & Communications Pvt Ltd.

Ashok Jain was the Chairman of Bennett, Coleman & Co., the parent company of The Times of India and other large newspapers.

<span class="mw-page-title-main">Vineet Jain</span> Indian businessman (born 1966)

Vineet Jain is an Indian entrepreneur and current Managing Director of Bennett, Coleman & Co. Limited, India’s oldest and largest media group in India, also known as Times Group. The Times Group is present across the media spectrum with a presence in Print, TV, Internet, Radio, Events and OOH. The Times Group has a legacy of 180+ years and publishes leading Indian general and business newspapers – The Times of India and The Economic Times.

In India, paid news is the practice of cash payment or equivalent to journalists and media organizations by individuals and organizations so as to appear in their news articles and to "ensure sustained positive coverage". This practice started in the 1950s and has become a widespread organized activity in India through formal contracts and "private treaties". Pioneered by Bennett, Coleman & Company, Ltd. (B.C.C.L.) group through their Times of India publication and widely adopted by groups such as The Hindustan Times, Outlook and others, the practice was brought to Western media attention in 2010. Paid news financially benefits the "individual journalists and specific media organizations" such as newspapers, magazines and television channels according to a 2010 investigative report of the Press Council of India. It is paid for by politicians, organizations, brands, movies and celebrities who seek to improve their public image, increase favorable coverage and suppress unfavorable information.

Dalmia Bharat Limited (DBL) is an Indian conglomerate, which traces its origins to the businesses established by brothers Ramkrishna Dalmia and Jaidayal Dalmia in eastern India in the first half of the 20th century. In the 1930s, the group merged with the businesses of the Jain family to form the Dalmia-Jain Group. In 1948, the two families decided to split the businesses; the Dalmia businesses were further divided between Ramkrishna and Jaidayal.

Newslaundry is an Indian media watchdog that provides media critique, reportage and satirical commentary. It was founded in 2012 by Abhinandan Sekhri, Madhu Trehan and Prashant Sareen, all of whom earlier worked in print or television journalism. It was India's first subscription-driven website when launched, and since then other platforms have followed a similar model. In contrast to news websites such as The Wire, The Quint, ThePrint or Scroll.in, Newslaundry solely relies on public subscriptions, instead of donations or advertisements, for revenue.

Pradeep Guha, also known as PG was an Indian media personality, advertising professional and film producer. He is best known for his work at Bennett, Coleman and Company (BCCL), the publisher of The Times of India, where he served for almost three decades (1976-2005) and transformed the flagship newspaper and magazine brands such as Filmfare and Femina. He also served as CEO of Zee Entertainment Enterprises Ltd, and managing director of 9X Media Private Limited. He was credited with introducing several innovative practices in the Indian media industry. He was also known for producing films such as Fiza (2000) and Phir Kabhi (2008).

References

  1. 1 2 Saini, Sonam (21 November 2019). "BCCL's FY21 consolidated revenue at Rs 5,337.94 crore". exchange4media.com. Archived from the original on 27 May 2023. Retrieved 27 May 2023.
  2. ↑ "Times Group may go for an IPO 'in the long run'". Business Standard . 8 November 2021. Archived from the original on 17 May 2022. Retrieved 8 November 2021.
  3. ↑ "Bennett Coleman & Co. Ltd.: Private Company Information". Bloomberg. Archived from the original on 30 July 2018. Retrieved 30 July 2018.
  4. ↑ "BENNETT COLEMAN AND COMPANY LIMITED". opencorporates.com . Archived from the original on 30 July 2018. Retrieved 30 July 2018.
  5. 1 2 James Crabtree, Mumbai (23 March 2015). "Uber in tie-up with Times of India digital arm". Financial Times. Archived from the original on 25 March 2015. Retrieved 24 March 2015.
  6. ↑ Times Group split: Samir Jain takes print; Vineet gets broadcast, radio biz Archived 19 July 2023 at the Wayback Machine . Financial Express. 21 May 2023.
  7. ↑ The Bombay times and journal of commerce, 1838–1859. National Library of Australia. 1838. Archived from the original on 5 January 2022. Retrieved 9 July 2018.
  8. ↑ "Bombay Times – Times of India ►". The Times of India. Archived from the original on 2 December 2018. Retrieved 9 July 2018.
  9. 1 2 3 "The Times of India". www.firstversions.com. Archived from the original on 9 July 2018. Retrieved 9 July 2018.
  10. 1 2 3 "3rd November 1838: The Times of India, the newspaper, was founded". www.mapsofindia.com. 3 November 2013. Archived from the original on 15 November 2019. Retrieved 9 July 2018.
  11. ↑ Rajan, Nalini (9 August 2005). Practising Journalism: Values, Constraints, Implications. SAGE Publications India. ISBN   9788132102618.
  12. 1 2 Kasbekar, Asha (2006). Pop Culture India!: Media, Arts, and Lifestyle. ABC-CLIO. ISBN   9781851096367. Archived from the original on 29 June 2023. Retrieved 9 July 2018.
  13. ↑ "History is only a by-product for Bennett, Coleman & Co". Business Today. 23 June 2011. Archived from the original on 7 January 2022. Retrieved 7 January 2022.
  14. ↑ Auletta, Ken (8 October 2012). "Citizens Jain". The New Yorker. Archived from the original on 20 April 2020. Retrieved 9 July 2018.
  15. ↑ "Just in times Shamni Pande, Business Today, July 10, 2011". 23 June 2011. Archived from the original on 24 April 2021. Retrieved 24 April 2021.
  16. ↑ Auletta, Ken (October 2012). "Citizens Jain, Why India's newspaper industry is thriving, Ken Auletta, The New Yorker, October 1, 2012". The New Yorker. Archived from the original on 20 April 2020. Retrieved 22 May 2018.
  17. ↑ "Details of most circulated publications for the audit period July – December 2013". Audit Bureau of Circulations. 21 May 2014. Archived from the original on 5 September 2019. Retrieved 24 March 2015.
  18. ↑ "Times of India to be split between Samir and Vineet Jain, brothers seek funds: Reports". Free Press Journal. 3 May 2023. Retrieved 2 March 2024.
  19. ↑ TimesNow. "Times – Movies and News Pack – Times Network News HD Premium Pack Price and Channel List". TimesNow. Archived from the original on 29 April 2019. Retrieved 30 April 2019.
  20. ↑ "Times Network to launch Hindi news channel in mid June - Exchange4media". Indian Advertising Media & Marketing News – exchange4media. Archived from the original on 19 May 2021. Retrieved 19 May 2021.
  21. ↑ Rajesh, Srividya (20 May 2021). "Times Network To Launch Hindi Business News Channel, ET Now Swadesh". IWMBuzz. Archived from the original on 29 August 2021. Retrieved 29 August 2021.
  22. ↑ "Change your life! SimplyMarry.com". The Times of India . 9 December 2006. Archived from the original on 11 March 2017. Retrieved 29 July 2016.
  23. ↑ "Square Yards | Tanuj Shori | Art of Selling Real Estate - Money Matters with Shradha Sharma". YouTube . 9 June 2020. Archived from the original on 29 June 2022. Retrieved 29 June 2022.

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