Media firm Jagran Prakashan is in talks with Mid-day Multimedia for a “strategic alliance,” which may include a possible stake buy, Jagran’s Chief Financial Officer R.K. Agarwal said on Thursday.
“We are working out on various possibilities like having the marketing tie-up...Nothing which is yet final and discussions are really at a preliminary stage,” Agarwal said.
On picking up a stake in Mid-day, he said, “It could be. I am not denying, I have not ruled out that possibility.”
Mid-Day, in a statement to the stock exchange, said it was in talks with various media partners and was examining the possibilities for strategic and operational alliances, but no specific decision had been taken.