Network18 and Jagran Prakashan go 50/50 on business daily
By Leah McBride Mensching, Thursday 20 December 2007 at 23:32 :: Media Ownership :: #1007 :: rss
Network18 and Jagran Prakashan, publisher of the Hindi daily Dainik Jagran, have announced they will embark on an equal joint venture initiative in the business print market.
The two will launch a Hindi business daily for the Indian market in 2008, to be followed by other Indian language dailies that focus on economics and finance.
The joint venture will be the first Hindi business newspaper to hit India's national market, agencyfaqs! reported Thursday.
Network18's part in the launch is also another move by the company into the print market. Recently, it announced a magazine publishing arrangement with Forbes and ownership of the business-to-business publisher Infomedia.
“In recent years, business audiences have grown immensely in the Hindi heartland and regional markets, reflecting a democratization of enterprise and wealth creation across the nation,” Raghav Bahl, of Network18, told agencyfaqs!. “Partnership with Jagran Prakashan will allow us to fulfill this need powerfully in the print space, by combining TV18's strengths in business content with Jagran's intimate understanding of print markets”
Mahendra Mohan Gupta, of Jagran Prakashan, said launching the business dailies will strengthen the group's presence in the print space.
“Our experience in the language media space has revealed a growing interest in specialized business news and information, which, this vehicle will enable us to cater,” Gupta said.
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