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Reader’s Digest signs deal with India Today Group to enter books & home entertainment space

01-November-2006
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Reader’s Digest signs deal with India Today Group to enter books & home entertainment space

Reader’s Digest (RD) has identified the direct space for further growth of the brand in India. In the process, the brand is focussing on books and home entertainment and has launched a wholly-owned subsidiary, Reader’s Digest India Book and Home Entertainment (RDIBHE), in a management agreement with Living Media India Ltd.

Speaking on the India operations, where Reader’s Digest is an acquired licensed brand of Living Media India (India Today Group), Mike Brennan, Reader’s Digest’s President, Latin America/Asia Pacific, said, “We are making great progress in India and the business is looking very good here. However, to augment the brand in this market, we have to identify more areas which would help us grow.”

The first among these is the direct area, essentially meaning the books and the home entertainment space. RD already has a presence in this area. However, the intention is to strengthen this further for which RDIBHE has been set up. India Today’s Anil Mehra explained, “The existing business was handled from Hong Kong. However, with this management deal, we would be driving the business completely in India. We would, of course, also be using their international best practices in the domain.”

Living Media also holds equity in RDIBHE, implying that in addition to the management fee, it would be a partaker in the revenues as well.

Brennan divulged that the other area that the group is really kicked about is the launch of the Hindi edition of Reader’s Digest in India. The plans for this are still on the drawing board and Living Media is currently conducting research on the scope for the Hindi edition of RD.

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