Top Story


Home >> Media – Print >> Article

Bennett, Coleman venture with BBC named Magz Intl

Font Size   16
Bennett, Coleman venture with BBC named Magz Intl

Bennett, Coleman & Co, the owners of the Times of India group of publications, has incorporated a new company — Magz International Ltd — for its proposed joint venture with the British Broadcasting Corporation (BBC) for publishing speciality magazines. The company is floated with a paid up equity capital of Rs 5 lakh.

In contrast to the earlier proposal, which had envisaged a 50:50 joint venture, Bennett, Coleman & Co, in its application to the ministry of information and broadcasting for permission for foreign direct investment, has said that the foreign investor (BBC World Wide) proposes to acquire up to 74 per cent of the equity share capital of Magz International.

A copy of the application made by Magz International seeking foreign investment permission is in Business Standard’s possession.

In response to an e-mail sent to Peter Phippen, managing director (BBC Magazines), BBC World Wide, a senior company executive told Business Standard: “We are still awaiting regulatory approval and do not have anything to add at the moment.” BBC’s investment in Magz International would be through World Wide Channel Investments Ltd (Channel), a subsidiary of BBC World Wide Ltd. The venture plans to take over the publishing of the 29 magazines published by the Times group. These magazines include Femina, Filmfare, Femina Allure, JLT (Just Like That), IAGT (It’s A Guy Thing), Kidzone, Strategic Marketing, Shipping Journal and many other B2B titles. “Magz shall initially issue 50 per cent equity in favour of the channel, which has an option to acquire another 24 per cent of our equity share capital at a later date. As such this application is being made for permission to enable the Channel to own 74 per cent equity in Magz,” Magz International said in its application letter which has already been forwarded to Foreign Investment Promotion Board. Magz International has an authorised capital of Rs 2 crore (20 lakh equity shares of Rs 10 each).


Vinik Karnik, Business Head - ESP Properties, talked about what went into conceptualising the first edition of the entertainment marketing report, Showbiz

Rahul Jhamb, Brand Head, Forever 21, on how the fast fashion brand always stays on the pulse of latest marketing trends

Heavy spends on OOH and print sum up this year’s ad spends of YLG Salon

Baba Ramdev brought his sharp wits for an interview with e4m where he promised to disrupt more markets and spoke about he the way he created a brand through consistent and selfless work

Heavy spends on OOH and print sum up this year’s ad spends of YLG Salon

Thomas, Chief Marketing Officer, Diageo India, gives us a peek into the marketing strategy for McDowell’s No 1 Soda, its creation of ‘No 1 Yaari Jam,’ their own set of 4Ps and importance of content

Prior to joining Madison PR in 2012 Chaudhary was Group President Corporate Communications at Reliance Industries Limited.