Murdoch mulls newspapers launch in India
By Erina Lin, Wednesday 30 April 2008 at 22:13 :: General :: #1596 :: rss
STAR India, a subsidiary of STAR Hong Kong owned by News Corp., is exploring the possibilities of getting into the print media market in India, the Business Standard reported.
Last week, top STAR executives met in Bangalore to discuss possible joint venture partners for the print foray.
STAR has been exploring the print media business in India for a while, especially after CEO Uday Shankar came into office.
Shankar told the press earlier that newspaper is a very exciting business, though currently restrictive in the country. Foreign direct investment in the print media is capped at 26 percent, Business Standard reported.
STAR has the chance to bring in foreign titles from its parent company, including The Times in the UK and Wall Street Journal in the US.
The company's prospective foray could heat up the print media battle in the country since Network 18 is also getting ready to launch Pearson's business daily Financial Times in India.
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