The Times Group
|Founded||4 November 1838|
|Headquarters||Mumbai, Maharashtra, India|
|Indu Jain |
(Chief Executive Officer)
|Revenue||₹9,976 crore (US$1.4 billion) (2016)|
|₹1,292 crore (US$180 million) (2016)|
Number of employees
Bennett Coleman and Company Limited, commonly known as The Times Group, is India’s largest media conglomerate, according to Financial Times as of March 2015. The Audit Bureau of Circulations reported in May 2014 that the Times of India had the largest circulation of any English-language newspaper in the world, with 3,321,702 average qualifying sales. The company remains a family-owned business as the descendants of Sahu Jain own a majority stake in The Times Group. The Times Group has over 11,000 employees and revenue exceeding $1.5 billion.
On 3 November 1838 the Bombay Times and Journal of Commerce was first published, a predecessor of what would become the Times of India. While starting as a biweekly paper, it was converted to a daily in 1850 and in 1859 the paper was merged with two other papers into the Bombay Times and Standard under editor Robert Knight. 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). 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 Ramakrishna Dalmia. He would in 1955 be convicted for embezzlement and during his time in prison the company was run by his son-in-law Sahu Shanti Prasad Jain. Jain would buy the company a few years later and the company would be primarily run by his family in the years after. The company expanded its presence in the Indian media sphere by founding different papers and local editions of the Times of India.
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