The Hindu : Dow Jones' pact with Times of India group

Online edition of India's National Newspaper
Friday, Jan 23, 2004

Business

Business

Dow Jones' pact with Times of India group

NEW DELHI, JAN. 22. Dow Jones and Company, publisher of The Wall Street Journal, and Bennett, Coleman & CO. Ltd., the publisher of The Times of India and The Economic Times, today announced an agreement on a joint venture to publish The Wall Street Journal for India.

The venture would publish the journal five-days-a-week, edited for global Indian business readers and international business travellers, drawing on the newspaper's global content.

Dow Jones owns 26 per cent of the new venture and Bennett, Coleman the balance 74 per cent. The newspaper would be edited by Suman Dubey, a leading journalist and currently Dow Jones' corporate representative in India. Further terms were not 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 are specially pleased to be launching this venture in partnership with Bennett, Coleman and The Times Group, the leading Indian newspaper publisher, and one of the most distinguished players in publishing globally,'' he said.

Vineet Jain, Managing Director of the Times Group said, "the joint venture comes at a moment when India is poised to become a global player across a range of industries: from software outsourcing and entertainment, to pharmaceutical, 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. ' — PTI

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