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CCI Nod Unleashes Major Restructuring of Times Group: BCCL Demerges Key Businesses into THPL

CCI greenlights internal reorganization of Bennett Coleman & Co. (BCCL). Key businesses, assets, and undertakings to be demerged into Times Horizon Pvt Ltd (THPL) on a going concern basis.
CCI Nod Unleashes Major Restructuring of Times Group: BCCL Demerges Key Businesses into THPL

In a sweeping internal reorganization, the publisher of The Times of India is set to streamline its vast portfolio by transferring multiple business verticals into a new entity.

NEW DELHI, FEB 18 (2026) – The Competition Commission of India (CCI) has approved a significant internal reorganization of Bennett Coleman & Company Limited (BCCL), the flagship firm of the $10 billion Times Group, paving the way for the demerger of certain businesses into Times Horizon Private Limited (THPL).

The approval, announced by the regulator on Wednesday, clears the decks for one of the most comprehensive corporate restructuring exercises undertaken by the media conglomerate in recent years.

The Transaction: A Going Concern Transfer
According to the notice filed with the CCI, the proposed combination involves the demerger of specific entities, businesses, undertakings, assets, and liabilities (termed the "EIBME Business") from BCCL to THPL. Crucially, this transfer will occur on a going concern basis, meaning the businesses will be transferred as live, operational units without disruption.

THPL, the receiving entity, is a newly incorporated shell company currently devoid of any business activities. It will serve as the dedicated vehicle to house the demerged operations post-restructuring.

The Empire Being Reshaped
BCCL and its group entities represent a sprawling empire that dominates India's media and entertainment landscape. Their diverse business interests include:

  • Publishing: Flagship newspapers like The Times of India and The Economic Times, along with journals, books, and other literary works across print and digital mediums.

  • Broadcasting & Entertainment: Television broadcasting (Zoom, Times Now), radio entertainment (Radio Mirchi), music, and movies.

  • Digital & Classifieds: Real estate classifieds (Magicbricks), digital products and services.

  • Adjacent Verticals: Brand capital business, events and conferences (Times Litfest), magazines ( Femina, Filmfare), lifestyle and entertainment, education and ed-tech, fintech, and advertising.

 

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Strategic Rationale
While BCCL remains one of the entities, the demerger into THPL signals a strategic intent to create a more focused corporate structure. By carving out specific businesses into a separate, wholly-owned entity, the Times Group appears to be streamlining its operations.

This type of reorganization often allows for:

  1. Better Management Focus: Allowing different verticals to operate with dedicated strategies.

  2. Attracting Investment: A cleaner structure can make it easier to bring strategic investors into specific high-growth areas like fintech, ed-tech, or digital assets without entangling the entire publishing business.

  3. Unlocking Value: Separating distinct businesses can help the market value them more accurately.

What’s Next
The CCI has stated that a detailed order outlining the specifics of the approval will follow. With the anti-trust regulator's nod secured, the Times Group can now proceed with the legal and procedural steps required to execute this massive internal reorganization.

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