The buzz has been on for the past few months that the India Today Group is gearing up to launch a morning daily. It is official now. In perhaps the first strategic investment by a foreign media house, the India Today Group has entered into a joint venture agreement with Associated Newspapers (ANL), publishers of the Daily Mail of UK, to launch mainline newspapers in India.
The announcement of the JV was made by Aroon Purie, Editor-in-Chief, India Today Group. He said, "We are delighted that our first foray into mainline newspapers is in partnership with one of the leading newspaper publishers of the world -- the prestigious Daily Mail Group. We share the same values of investment in editorial excellence."
Commented Kevin Beatty, Managing Director, ANL, “This has been a momentous occasion in the long history of our company. Mr Purie, and your Executive team, we thank you for helping us learn a lot in terms of the dynamism of the media landscape in India.”
The Daily Mail General Trust is one of the largest and most successful media companies in the UK and has interests in national and regional newspapers and related digital operations, information and business publishing, exhibitions and radio. An FTSE 100 company listed on the London Stock Exchange, its turnover exceeds Pound two billion and a market cap of over Pound three billion.
Besides the Daily Mail, ANL also publishes The Mail on Sunday, the Evening Standard, Metro, London Lite and Loot. The circulation of its national newspapers is around two million copies on weekdays and three million copies on Saturdays with a readership of around six million and nine million respectively.
Its digital division’s network reaches an estimated 25 per cent of all UK Internet users, having expanded into the key areas of the online advertising market in automotive, jobs, property, dating, and personal finance. DMGT is also one of the largest regional newspaper publishers in the UK under its division, Northcliffe Media.
The India Today Group brings out a clutch of leading news and feature magazines, such as India Today and Business Today, and has a nationwide presence with its language editions of the India Today magazine. Among the international titles it publishes in India are Cosmopolitan, Reader’s Digest, Men’s Health, Good Housekeeping, Scientific American, Prevention and Harvard Business Review.
The other companies in the group are TV Today Network Ltd which runs four successful 24-hour news channels; Thomson Press, the largest commercial press in India; HarperCollins India Ltd, a joint venture book publishing firm; and Integrated Databases, a JV with Yellow Pages Singapore.