Jasubhai Digital Media sold

This one has taken a couple of weeks to filter its way through to me but I note with great interest the Shah family's decision to sell its Jasubhai Digital Media subsidiary. The company has been acquired by 9.9 Mediaworx for an undisclosed sum and is to be re-named 9.9 Digital Media.

According to a Business Standard article just before the deal, 9.9 was established by former ABP CEO Pramath Sinha. ABP is the publisher of Businessworld magazine.

ZDNet India, which is run by Jasubhai Digital Media, quoted Sinha saying "We believe that the media industry in India is at its infancy and niche, sharply targeted media brands such as those of JDM have exponential growth opportunities." The article also notes that "the Jasubhai Group will continue to have interest in the business through a financial stake in 9.9 Media".