Reuters Invests in Indian News Channel

Guardian: This is in keeping with Reuters’ efforts to move beyond its historic role as a news service by establishing new ventures in developing markets. In more developed markets like US and UK, the company is concentrating on supplying internet news as part of the Microsoft media centre.
Anyway, Reuters has bought a stake in an English-language news channel being set up by the Times of India. The news service has bought 26% of the Times of India Global Broadcasting Company, a division of the Indian newspaper group that publishes the world’s highest circulating daily broadsheet, with a readership of 7.4 million.
Indiatelevision: While the financial aspects of transaction remain a matter of speculation, a report put out by moneycontrol.com quoting news wires says Reuters’ 26 per cent stake in the Times channel has been valued at $20 million (Rs 900 million). If this be the case, then the total valuation of Times Global Broadcasting stands at just below Rs 3.5 billion (Rs 3.46 billion to be exact).

Comments have been disabled for this post