Business Standard is an Indian English-language daily edition newspaper published by Business Standard Private Limited,[4] also available in Hindi. Founded in 1975, the newspaper covers the Indian economy, infrastructure, international business and trade, stock and currency markets, corporate governance, and a range of other financial news, opinions and insights.
The newspaper's initial owner had been the Kolkata-based ABP Group. Circulation was rising, but losses were rising, possibly to above Rs 50 crore, and ABP could not support it. ABP hoped that the government would allow Financial Times to take an equity stake in Business Standard Limited and bring in funds.[6]
In 1997, Business Times was purchased by Kotak Mahindra Finance, in a deal led by now Kotak Mahindra Bank Managing Director and CEO Uday Kotak. Kotak said in an interview in 2005 that BS was losing Rs 1.5 crore a month and ABP feared being bankrupted by the losses. Aveek and Arup Sarkar spun BS off into a separate company and approached Kotak as a potential buyer, fearing they needed to close down the paper. "I did a quick calculation. I believed that if I put Rs 20 crore into the paper, we could turn it around. The cost of acquisition was virtually zero. The Sarkars were so desperate that they were ready to give the paper up for nothing. I can’t remember how much we paid but it was only a crore or so. Kotak Mahindra was flush with funds – some from the Goldman Sachs JV – so it seemed like a risk worth taking," he said.[7]
The paper remained India's second largest business daily in terms of circulation for years, until in 2017, when its ranking sank. In January 2019, it was judged by the Indian Readership Survey (IRS) to be the fourth largest financial newspaper (with an average annual readership of 107,000 copies) and third largest selling financial newspaper (with a total readership of 505,000).[8]
In January 2020, the paper had recovered some ground. The IRS 2019Q4 survey found the newspaper gained 45,000 readers over the final quarter of 2019 to hit an average issue readership of 189,000 copies. It is the third-highest selling financial newspaper in India, behind the Economic Times and Mint.[9]
Editor
Financial journalist T. N. Ninan was the editor from 1993 to 2009. In January 2010, Ninan became chairman and editorial director of Business Standard Ltd and was succeeded as editor of Business Standard by Dr Sanjaya Baru, who was formerly media advisor to Prime Minister Manmohan Singh. Long-term Business Standard editorial staff Ashok K Bhattacharya took charge of the paper after Baru quit to join a UK-based think tank in 2011.[10] The current editor is Shailesh Dobhal.[11]
Employees
While exact figures are not known, more than 100 business journalists are currently employed with the publication. After the onset of the COVID-19 pandemic in India, the newspaper fired almost 100 employees, almost half of whom were editorial staff.[12][13]
The offices with the largest editorial teams are in Delhi, which mostly covers government policy news and Mumbai, mostly dedicated to corporate, financial and share market news. Other offices with reporting bureaus are present in Kolkata, Bangalore, and Ahmedabad. The newspaper had few reporters in other major cities such as Chennai and Bhubaneswar, and their numbers have been continuously reduced since 2016. Eeporters based out of Lucknow, Chandigarh and Hyderabad were let go.
References
^"Profile of Uday Kotak". Virsanghvi.com. 5 September 2005. Retrieved 17 August 2020.
^. Archived from the original on 9 November 2016. Retrieved 14 February 2020.{{cite web}}: CS1 maint: bot: original URL status unknown (link)March 2, 2016 The Daily Pao
^Sruthijith KK (4 August 2009). "Corrected: Business Standard Owner Uday Kotak Held Meetings With Potential Buyers". gigaom.com. Retrieved 27 July 2018.
^"Contact Us". Business Standard. from the original on 9 February 2013. Retrieved 4 July 2021.
^Business Standard. "About Us - Brand - Business Standard". Business Standard. {{cite web}}: |author= has generic name (help)
^"A distress sale". Outlookindia.com. 29 January 1997. Retrieved 17 August 2020.
^"Profile of Uday Kotak". Virsanghvi.com. 5 September 2005. Retrieved 17 August 2020.
^"The Economic Times is number 4 among English newspapers: IRS 2017". Economic Times.
^"The Economic Times continues to grow, daily readership crosses 1.1 million". Economic Times. 13 May 2020. Retrieved 17 August 2020.
^"AK Bhattacharya replaces Sanjaya Baru as Editor of BS".
^"Source: Twitter Account of Mr. Shailesh Dobhal".
^"Business Standard discontinues weekend edition, initiates layoffs across bureaus". Newslaundry.com. 2 July 2020. Retrieved 17 August 2020.
^"Media layoffs: ET Gujarati shuts down, Business Standard initiates second round of retrenchments". Newslaundry.com. 31 July 2020. Retrieved 17 August 2020.
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Not to be confused with The Business Standard Business Standard is an Indian English language daily edition newspaper published by Business Standard Private Limited 4 also available in Hindi Founded in 1975 the newspaper covers the Indian economy infrastructure international business and trade stock and currency markets corporate governance and a range of other financial news opinions and insights Business StandardTypeDaily newspaperFormatBroadsheetOwner s Business Standard Private Limited Kotak Mahindra Bank 1 2 Founder s ABP Group 3 PublisherBusiness Standard LtdEditorShailesh DobhalStaff writers400 August 2020 Founded26 March 1975LanguageEnglishHindiHeadquartersNehru House 4 Bahadur Shah Zafar MargNew Delhi 110002Circulation189 000OCLC number496280002Websitewww wbr business standard wbr com hindi wbr business standard wbr comFree online archivesYesThe main English language edition comes from 12 regional centers Mumbai New Delhi Kolkata Bengaluru Coimbatore Chennai Ahmedabad Hyderabad Chandigarh Pune Lucknow Bhubaneswar and Kochi and reaches readers in over 1 000 towns and cities across India 5 Contents 1 History 2 Editor 3 Employees 4 References 5 External linksHistory EditThe newspaper s initial owner had been the Kolkata based ABP Group Circulation was rising but losses were rising possibly to above Rs 50 crore and ABP could not support it ABP hoped that the government would allow Financial Times to take an equity stake in Business Standard Limited and bring in funds 6 In 1997 Business Times was purchased by Kotak Mahindra Finance in a deal led by now Kotak Mahindra Bank Managing Director and CEO Uday Kotak Kotak said in an interview in 2005 that BS was losing Rs 1 5 crore a month and ABP feared being bankrupted by the losses Aveek and Arup Sarkar spun BS off into a separate company and approached Kotak as a potential buyer fearing they needed to close down the paper I did a quick calculation I believed that if I put Rs 20 crore into the paper we could turn it around The cost of acquisition was virtually zero The Sarkars were so desperate that they were ready to give the paper up for nothing I can t remember how much we paid but it was only a crore or so Kotak Mahindra was flush with funds some from the Goldman Sachs JV so it seemed like a risk worth taking he said 7 The paper remained India s second largest business daily in terms of circulation for years until in 2017 when its ranking sank In January 2019 it was judged by the Indian Readership Survey IRS to be the fourth largest financial newspaper with an average annual readership of 107 000 copies and third largest selling financial newspaper with a total readership of 505 000 8 In January 2020 the paper had recovered some ground The IRS 2019Q4 survey found the newspaper gained 45 000 readers over the final quarter of 2019 to hit an average issue readership of 189 000 copies It is the third highest selling financial newspaper in India behind the Economic Times and Mint 9 Editor EditFinancial journalist T N Ninan was the editor from 1993 to 2009 In January 2010 Ninan became chairman and editorial director of Business Standard Ltd and was succeeded as editor of Business Standard by Dr Sanjaya Baru who was formerly media advisor to Prime Minister Manmohan Singh Long term Business Standard editorial staff Ashok K Bhattacharya took charge of the paper after Baru quit to join a UK based think tank in 2011 10 The current editor is Shailesh Dobhal 11 Employees EditWhile exact figures are not known more than 100 business journalists are currently employed with the publication After the onset of the COVID 19 pandemic in India the newspaper fired almost 100 employees almost half of whom were editorial staff 12 13 The offices with the largest editorial teams are in Delhi which mostly covers government policy news and Mumbai mostly dedicated to corporate financial and share market news Other offices with reporting bureaus are present in Kolkata Bangalore and Ahmedabad The newspaper had few reporters in other major cities such as Chennai and Bhubaneswar and their numbers have been continuously reduced since 2016 Eeporters based out of Lucknow Chandigarh and Hyderabad were let go References Edit Profile of Uday Kotak Virsanghvi com 5 September 2005 Retrieved 17 August 2020 Who Owns Your Daily Newspaper Archived from the original on 9 November 2016 Retrieved 14 February 2020 a href Template Cite web html title Template Cite web cite web a CS1 maint bot original URL status unknown link March 2 2016 The Daily Pao Sruthijith KK 4 August 2009 Corrected Business Standard Owner Uday Kotak Held Meetings With Potential Buyers gigaom com Retrieved 27 July 2018 Contact Us Business Standard Archived from the original on 9 February 2013 Retrieved 4 July 2021 Business Standard About Us Brand Business Standard Business Standard a href Template Cite web html title Template Cite web cite web a author has generic name help A distress sale Outlookindia com 29 January 1997 Retrieved 17 August 2020 Profile of Uday Kotak Virsanghvi com 5 September 2005 Retrieved 17 August 2020 The Economic Times is number 4 among English newspapers IRS 2017 Economic Times The Economic Times continues to grow daily readership crosses 1 1 million Economic Times 13 May 2020 Retrieved 17 August 2020 AK Bhattacharya replaces Sanjaya Baru as Editor of BS Source Twitter Account of Mr Shailesh Dobhal Business Standard discontinues weekend edition initiates layoffs across bureaus Newslaundry com 2 July 2020 Retrieved 17 August 2020 Media layoffs ET Gujarati shuts down Business Standard initiates second round of retrenchments Newslaundry com 31 July 2020 Retrieved 17 August 2020 External links EditOfficial website in English Official website in Hindi Business Standard on Twitter Retrieved from https en wikipedia org w index php title Business Standard amp oldid 1149917295, wikipedia, wiki, book, books, library,
