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DB Corp and Deccan Chronicle deny talks of acquisition

The media reports on Friday said that DB Corp was in talk to acquire Deccan Chronicle Holdings (DCHL) print business

BestMediaInfo Bureau | Delhi | August 6, 2012

DB Corp and Deccan Chronicle Holdings (DCHL) have denied the media reports which said that DB Corp was in talk to acquire Deccan Chronicle Holdings (DCHL) print business.

Deccan Chronicle Holdings Ltd said that the Company has not been approached by anybody to acquire the print business and the Company is no way connected with the aforesaid news.

D. B. Corp Ltd has also clarified that the news item is a market speculation and is absolutely baseless. The Company denies having arrived at any agreement for acquisition for print business of Deccan Chronicle Holdings Ltd.

According to the media reports on August 3, 2012, “The owner of newspapers such as the Deccan Chronicle and Financial Chronicle has faced a barrage of media reports that the company is struggling for survival, sending its shares down 52 percent from July 20 to Wednesday’s close.”

“Its main stakeholders have pledged shares with other companies, including consumer and mortgage loan provider Future Capital Holdings, to raise funds, according to exchange statements,” the reports said further.

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