The publishing business of Kasturi & Sons Limited(KSL) that brings out The Hindu group of publications has been demerged from the holding company into a separate entity, the company announced today.
This and other changes as part of restructuring of The Hindu group came into effect on September 16, according to a press release issued by Kasturi & Sons Limited, the holding company of The Hindu group of publications with its headquarters in Chennai.
N. Murali has been appointed Chairman and Nalini Krishnan Co-Chairperson of Kasturi & Sons Limited, the release said, adding the existing directors of the company before demerger constitute the board of directors of this company.
As part of the restructuring, the newspapers, magazines and digital news media publications of The Hindu group has become a part of the publishing company, THG Publishing Private Limited, the release said.
N. Ram has been appointed Chairman and Malini Parthasarathy the Co-Chairperson of the publishing company whose board has been constituted with the existing directors of KSL, the release said. Ram, a former Editor-in-Chief of The Hindu, has until now been the Chairman of Kasturi & Sons Ltd.
N. Ravi, former Editor and a member of the KSL board, has been appointed Publisher of The Hindu and the other publications, the release said.
The Groups publications include the 140-year-old English daily, The Hindu, the four-year-old daily The Hindu Tamil, the business newspaper The Hindu BusinessLine, the fortnightly Frontline, and the weekly Sportstar. The company has an active presence in the online sphere, the newspaper having started the first website for any Indian newspaper as early as in 1996.
The process of demerger of the publishing business into a separate entity is now complete under the Companies Act, with the sanctioning of a scheme of arrangement by the Chennai branch of the National Company Law Tribunal under its order dated August 29, 2017, the release said.
The process of holding the requisite board meetings and shareholder meetings has been completed in phases during September, it added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)