FT Sells Stake In Business Standard in India; To Launch Financial Daily With Network 18

Like we predicted on ContentSutra, India’s media firm Network 18 is all set to launch a financial daily in partnership with Financial Times, and 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.

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.

Jaideep Bose, executive editor of TOI, is rumored to lead the new venture. The crowd is getting bigger: 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. 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.

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