Summary:

Close on the heels of The Wall Street Journal, which has received necessary clearances and will shortly launch a facsimile edition in India,…

Close on the heels of The Wall Street Journal, which has received necessary clearances and will shortly launch a facsimile edition in India, its global competitor Financial Times, owned by London-based Pearson (NYSE: PSO) Plc., is set to follow suit, according to a person familiar with the situation. The company has formed an Indian subsidiary, The Financial Times (India) Pvt. Ltd, and has sought permission from the Foreign Investment Promotion Board of the Indian government to invest in the country. Dow Jones (NYSE: NWS), WSJ’s parent, first sought permission for a fax edition in August 2008, and did not receive approvals till last month. Financial Times, however, has sought permission “To print, publish, distribute and conduct for sale one or more newspapers”, and hasn’t specifically said it wants to launch a fax edition. A facsimile edition is an exact replica of a newspaper printed abroad and cannot carry local ads or local news that is not originally published in the country of origin. India has six (1, 2, 3, 4, 5, 6) national business dailies in English. More details on our sister site contentSutra.com

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