Metro Now, the English tabloid from Metropolitan Media Company, a 50:50 joint venture between Bennett Coleman & Company Ltd (BCCL) and HT Media Ltd, will be converted from a daily newspaper into a weekly.
The news comes amidst the global economic meltdown.
Sources close to the development said that the change will take place beginning with the Gurgaon market from January 24, 2009.
The source said, “We have reworked our business model. Metro Now will soon launch as a weekly targeting communities in the National Capital Region such as Gurgaon and Noida. We will extend the project to Faridabad and Ghaziabad in March 2009.”
The source also mentioned that the restructuring could lead to some jobs being lost. However, no internal announcement on any plans for the employees has been made as yet. Metropolitan currently employs around 90 people.
Metro Now was launched in February 2007. Rivals BCCL and HT Media are India’s leading media houses. The English dailies published by BCCL and HT Media, The Times of India and the Hindustan Times, also have dedicated supplements for most territories in North India.