Diligent Media Corporation Limited (DMCL) informed the exchanges on Wednesday that the company will stop the print edition of Daily News and Analysis (DNA) in Mumbai and Ahmedabad from October 10.

 Launched in 2005, DNA is an English-language daily newspaper owned by Diligent Media Corporation Limited.

The company in a press release said – “With effect from October 10, 2019 Diligent Media Corporation Limited (BSE Scrip Code – 540789 & NSE – DNAMEDIA) shall cease to carry the print publication of all editions of its English Daily Newspaper called ‘DNA’. Till now, the DNA Newspaper was being published from Mumbai & Ahmedabad. The Company shall, however, continue to concentrate on publication through its digital platform “dnaindia.com” completely.”

The company further added that the decision to cease print publication is in view of the fact that currently consumers are preferring and adopting the digital form of news consumption and the current restructuring will help in minimising the losses. And that’s the reason DMCL had stopped print edition of DNA in Delhi since February 2019.

In a statement, DMCL stated that – DNA is an integral part of its news media offering and the company has always invested immense time, resources and energy in enriching it as a news platform, making it relevant and immensely informative for its readers, and will continue to do so. The steps taken by the Company is to further sharpen the news platform and enhance its offerings keeping the audiences’ consumption patterns in mind.

It further added – “Over the last few months, DNA has grown multi-fold in the digital space, and will continue to be the preferred news destination as a web portal.” Soon the company will be launching the DNA mobile application with a higher focus on video-based original content.

On Wednesday, the shares of Diligent Media Corporation closed in BSE at Rs. 0.38 as compared to the previous close of Rs. 0.39. The stock hit an intraday high of Rs. 0.38 and intraday low of Rs. 0.38.