TIMES
GROUP TIES UP WITH DOW JONES TO PUBLISH WSJ IN INDIA
Dow Jones, the publisher
of The Wall Street Journal, and Bennett, Coleman, the publisher
of The Times of India and The Economic Times, announced a
joint venture to publish The Wall Street Journal for India.
The JV will publish the journal five days a week for the global
Indian business readers and international business travellers,
drawing on the newspaper's global content.
Dow Jones will own 26%
of the new venture, while Bennett, Coleman will own 74%. The
newspaper would be edited by Suman Dubey, a leading Indian
journalist and currently Dow Jones' corporate representative
in India. Further terms of the agreement weren't disclosed.
"I am thrilled that
we will soon be able to offer Indian business readers access
to the incomparable global business information of The Wall
Street Journal on a timely basis," said Peter R Kann,
chairman and CEO of Dow Jones. "India is a vibrant and
growing part of the global economy, and we look forward to
playing an increased role in charting - and spurring - that
growth. We're especially pleased to be launching this venture
in partnership with Bennett, Coleman and the Times Group,
the leading Indian newspaper publishers and one of the most
distinguished players in publishing globally."
Vineet Jain, managing
director of the Times Group said, "The JV comes at a
moment when India is poised to become a global player across
a range of industries: From software outsourcing and entertainment
to pharmaceuticals, textiles and automobile components. As
Indian companies, investors and consumers begin to think beyond
the geographical boundaries, the need for global information
and perspective will grow. We believe that the venture fits
in perfectly with the emerging needs of the time. We respect
Dow Jones and The Wall Street Journal for the enviable standards
they have set in publishing and media. We look forward to
learning from each other." Karen Elliott House, publisher
of The Wall Street Journal, added, "A Wall Street Journal
for India will instantly become an important component of
the global Journal network, including The Wall Street Journal
in the US, The Asian Wall Street Journal, The Wall Street
Journal Europe and The Wall Street Journal Americas in Latin
America. We look forward to serving readers and advertisers
in India who need the world's most vital business news every
business day."
