Wednesday, December 19, 2007

Network 18 muscles into India business media

I have to confess that, until two weeks ago, I'd never heard of Network 18 or its previous incarnation, TV18. In a very short period, however, the company has muscled its way into the heart of India's business media scene. Three key deals have been announced:

  1. The company took a strategic stake in Infomedia, buying up, as a first step, 40% of ICICI Bank's controlling share in the company.
  2. It announced a joint venture with Forbes to produce an Indian edition of that magazine.
  3. And now, today, I see news of a proposed Hindi business newspaper to be produced in a 50:50 joint venture with Jagran Prakashan.
This looks like a company to watch, having moved from zero presence to a position close to market leadership within a matter of weeks.

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