KOLKATA: Kolkata headquartered Rose Valley, which launched ‘Khabar 365 Din’ - a Bengali daily last year, plans to sell a part of the stake to Mumbai based jewellery company Gitanjali Jewellers.

Also, Rose Valley which registered a public limited company by the name of Rose Valley Patrika was initially in talks with two-three Kolkata headquartered ‘big companies’ who were willing to strike a deal with the company.

A senior media person on the condition of anonymity said: “The deal has been done between Rose Valley and Gitanjali Jewellers.”

Khabar 365 Din, which launched on 16 January 2012, is published from Kolkata and Siliguri.

“Within a span of one and half years, after its launch, the newspaper made a mark in the Kolkata media industry,” said media analysts.

The company was also in the process to publish daily newspaper in English language from Kolkata but nothing concrete was heard, the media person added.

A Kolkata based media manager said companies which need to spend a huge amount on advertising; sometimes prefer to pick a small stake in regional dailies so that by publishing advertisements at the appropriate time they can reach their clientele.

A Kahabar 365 Din daily senior employee confirmed that Gitanjali may buy a small per cent stake in the newspaper. “We have been hearing about this development recently but though no official announcement has been done by the management,” he clarified.