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Kotak Buys FT Stake In Business Standard; FT To Launch Financial Daily With Network 18

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Like we predicted, Network 18 is all set to launch a financial daily in partnership with Financial Times, the new title is expected to hit stands by 2008 end. Mint reports the five year relationship between Financial Times and Business Standard is officially over. Infina Finance, an associate of Kotak Mahindra, has acquired 13.85 percent stake in Business Standard for undisclosed terms, previously held by FT for Rs 14.1 crore in September 2003.

Jaideep Bose, executive editor of TOI, is rumored to helm the new venture. Another financial daily being launched is Deccan Chronicle’s Financial Chronicle in addition to the already existing ET, BS, Financial Express, Mint and Hindu Business Line. Speaking of a crowd, just to remind our readers, BCCL is expected to launch a business channel to compliment ET and UTV’s much delayed business news channel will be going live anytime soon.

WSJ: The Business Standard will have access to FT content until the end of this year. Pearson (NYSE: PSO) hopes to launch its new publication, in which under Indian laws it will only be allowed to hold up to a 26 percent stake, as early as December.

One Response to “Kotak Buys FT Stake In Business Standard; FT To Launch Financial Daily With Network 18”

  1. Pradeep Thomas

    Wondering why FT wouldn't want to launch its paper in the country post the split the fact that there aren't too many foreign financial papers in the country, magazines like The Economist are looking at launching in the country. Also i think that BS needs the money since its on an expansion mode and maybe FT's stake in BS stocks was partly funded by the fact that it provided content rather than capital. BS is launching many editions in the Hindi Belt i'm assuming there wouldn't be too much of need for foreign news as much as local and regional news. Interesting to see natural progression of TV to print and print to TV, wondering if consumers would get new content or is it a ploy to ramp up revenues for the publications.