According to Rediff.com, "A leading Irish media baron has evinced interest in acquiring an estimated 30% stake in Dainik Jagran, one of the largest circulated Hindi-language dailies. The paper is printed at 25 sites and the Jagran Group owns one of India's most popular online information portals. "Tony O'Reilly, chief executive of Independent News and Media Group (owner of The Independent in the UK) is in advanced talks and if successful, the deal will give the Irish entrepreneur's company a substantial foothold in one of the world's fastest-growing media markets," London's The Sunday Times reported. O'Reilly is expected to make an official announcement in the next few days, the report said. "The deal is likely to cost several tens of millions of euros," the newspaper quoted one person involved in the talks. Based in Kanpur, India, Jagran is wholly owned by the Gupta family. "They have been in talks with O'Reilly about the sale of a stake since 2000 but in recent weeks the talks have gained momentum," the report said."

Source: Rediff.com through IFRA newsletter